Algoma Steel Q2 2026 loss narrows as insurance proceeds and FX gains offset tariff-hit shipments, higher operating loss
Reuters2026/07/29 21:45- Algoma Steel posted a Q2 net loss of C$ 96 million, narrower than C$ 110.6 million, helped by C$ 45 million insurance proceeds.
- Operating loss widened to C$ 134.2 million from C$ 85.1 million as shipment volumes fell 61.6% to 181,473 tons amid weaker demand.
- Average net sales realization rose to C$ 1,361 per ton from C$ 1,132, driven by a higher plate mix despite lower volumes.
- Direct tariff costs in cost of sales fell to C$ 18.7 million from C$ 64.1 million; U.S.-bound shipments dropped to 23% from 54%.
- Adjusted EBITDA turned positive at C$ 13.8 million from a loss of C$ 32.4 million, aided by lower fixed costs and improved product mix.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
EdiliziAcrobatica announces shareholder meeting notice
Storage Giant Offers Huge Bonuses Again: Micron Awards Up to 68 Months’ Bonus
Micron Technology has announced record-breaking bonuses for its employees in Taiwan, ranging from 35 to 68 months’ salary, with a minimum cash compensation of 1.7 million New Taiwan dollars. However, the Taoyuan union, representing about two-thirds of Micron’s workers in Taiwan, has refused to accept the offer, insisting that 15% of operating profits be included in the bonus distribution and maintaining the threat of a strike.
Crypto prices
More
