#ASTLW

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4 days ago

Algoma Steel Group Inc. Reports Financial Results for the Three and Twelve Months Ended December 31, 2025 Algoma Steel (NASDAQ: ASTL) reported Q4 and full-year 2025 results showing a major operational transition and significant financial losses. Algoma completed shutdown of its blast furnace and fully transitioned to electric arc furnace (EAF) steelmaking, with the EAF operating 24 hours and producing all liquid steel.Q4 revenue was $455.0M with a net loss of $364.7M; full-year revenue was $2,085.7M with a net loss of $984.9M. The company secured a $500M government-backed LETL facility and announced a binding MOU with Hanwha Ocean valued up to US$250M (subject to conditions).

#ASTL #ASTLW Algoma Steel Group Inc. Reports Financial Results for the Three and Twelve Months Ended December 31, 2025

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2 weeks ago

Algoma Steel Group Inc. to Announce 2025 Fourth Quarter and Full Year Results March 11, 2026 Algoma Steel (NASDAQ: ASTL) will release its 2025 fourth quarter and full year results after market close on March 11, 2026. A webcast and conference call to review results and take questions is scheduled for March 12, 2026 at 11:00 a.m. ET.Live and archived webcast access is available on the company's Investors website; dial-in and replay numbers with passcode are provided for domestic and international participants.

#ASTL #ASTLW Algoma Steel Group Inc. to Announce 2025 Fourth Quarter and Full Year Results March 11, 2026

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1 month ago

Algoma Steel and Hanwha Ocean Sign Binding Memorandum of Understanding (MOU) for Long-term Strategic Arrangement supporting Canadian Patrol Submarine Project Algoma Steel (NASDAQ: ASTL) and Hanwha Ocean signed a binding MOU on Jan 26, 2026 to pursue a long-term strategic arrangement supporting Canada’s Canadian Patrol Submarine Project (CPSP).The arrangement has an aggregate potential value of USD $250 million comprised of a USD $200 million cash contribution toward a proposed structural steel beam mill in Sault Ste. Marie and up to USD $50 million in anticipated Algoma product purchases for CPSP construction and MRO. The MOU is conditional on Hanwha Ocean receiving and executing a CPSP contract and on definitive agreements with Algoma. Algoma would pay Hanwha 3.0% of beam-mill net sales annually for ten years, subject to performance.

#ASTL #ASTLW Algoma Steel and Hanwha Ocean Sign Binding Memorandum of Understanding (MOU) for Long-term Strategic Arrangement supporting Canadian Patrol Submarine Project

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2 months ago

Algoma Steel Provides Guidance for the Fourth Quarter of 2025 Algoma Steel (NASDAQ: ASTL) provided guidance for the quarter ended Dec. 31, 2025. Total steel shipments are expected at 375,000–380,000 tons. Adjusted EBITDA is projected at negative $95 million to negative $105 million. Management said fourth-quarter results reflected steel tariffs and the near-complete wind-down of blast furnace operations. The company reported the first unit of its Electric Arc Furnace project is ramping and now operating 6 days per week, with the second unit remaining on schedule. Algoma said it expects to complete the transition to EAF steelmaking during the current quarter and is advancing discussions to expand finishing capabilities.

#ASTL #ASTLW Algoma Steel Provides Guidance for the Fourth Quarter of 2025

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3 months ago

#ASTL #ASTLW Algoma Steel Completes $500 Million Government Financing Transaction

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4 months ago

Algoma Steel Group Reports Financial Results for the Third Quarter 2025 Algoma Steel (NASDAQ: ASTL) reported Q3 2025 results with consolidated revenue of $523.9M and a net loss of $485.1M, driven largely by a $503.4M non‑cash impairment and trade headwinds.The company advanced its EAF transition with first arc and first steel in July, expects to ramp to a five‑day schedule in mid‑November, targets ~3.7M tonnes annual raw steel capacity post‑conversion, and projects ~70% annual carbon emissions reduction. Algoma secured $500M government‑backed liquidity and increased ABL availability, ending the quarter with $337.1M liquidity.

#ASTL #ASTLW Algoma Steel Group Reports Financial Results for the Third Quarter 2025

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5 months ago

Algoma Steel Secures C$500 Million Liquidity Support from Governments of Canada and Ontario Algoma Steel (NASDAQ: ASTL) has secured C$500 million in liquidity support from Canadian governments, including C$400 million from the federal government and C$100 million from Ontario. The financing comes as a response to challenging market conditions caused by 50% U.S. tariffs on Canadian steel.The seven-year facilities include a C$100 million third lien secured tranche and a C$400 million unsecured tranche with warrant issuance. Interest rates start at CORRA + 200 bps for three years, increasing by 200 bps annually thereafter. The company will issue 6.77 million warrants at C$11.08 per share with a 10-year term.In response to market conditions, Algoma will exit blast furnace and coke oven operations while accelerating its transition to Electric Arc Furnace steelmaking, with expected project costs of C$987 million. The company will focus on plate and select coil products primarily for the Canadian market.

#ASTL #ASTLW Algoma Steel Secures C$500 Million Liquidity Support from Governments of Canada and Ontario

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7 months ago

Algoma Steel Group Inc. Reports Financial Results for the Second Quarter 2025 Algoma Steel Group Inc.

#ASTL #ASTLW Algoma Steel Group Inc. Reports Financial Results for the Second Quarter 2025

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7 months ago

Algoma Steel Comments on Ongoing Trade Impasse and Prolonged Tariff Environment Algoma Steel (NASDAQ: ASTL), Canada's only independent and publicly owned steelmaker, has addressed concerns regarding the ongoing trade dispute with the United States and its impact on operations. The company faces significant challenges due to a 50% Section 232 tariff on Canadian steel, despite nearing completion of a C$900 million investment in electric arc furnace steelmaking.To address liquidity concerns, Algoma is pursuing various alternatives, including an application for a $500 million federal Large Enterprise Tariff Loan (LETL). The company aims to support current operations while exploring strategic diversification into sectors such as defense and construction. While Algoma maintains sufficient near-term liquidity, it seeks additional support to manage the structural imbalance in the Canadian market caused by U.S. tariffs. [ "Near completion of C$900 million investment in eco-friendly electric arc furnace technology", "Currently maintains sufficient resources for near-term liquidity", "Potential access to $500 million federal LETL program support", "Strategic opportunities for diversification into defense and construction sectors" ]

#ASTL #ASTLW Algoma Steel Comments on Ongoing Trade Impasse and Prolonged Tariff Environment

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7 months ago

Algoma Steel Group Inc. Announces Filing of Base Shelf Prospectus Algoma Steel Group (NASDAQ: ASTL), a leading Canadian steel producer, has filed a base shelf prospectus with the Ontario Securities Commission and a corresponding shelf registration statement with the SEC. The filings allow Algoma to potentially offer various securities including common shares, preferred shares, debt securities, subscription receipts, units, and warrants in Canada and the US over a 25-month period.While the company states it has no immediate plans for capital raising, the registration will be used for potential exercises of existing warrants and possible resale of previously registered securities. The filing is primarily aimed at maintaining financial flexibility for the company.

#ASTL #ASTLW Algoma Steel Group Inc. Announces Filing of Base Shelf Prospectus

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7 months ago

NEWS: ( NASDAQ: #ASTLW ) Algoma Steel Announces Conference Call and Provides Guidance for the Second Quarter 2025

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8 months ago

Algoma Steel Announces Conference Call and Provides Guidance for the Second Quarter 2025 Algoma Steel (NASDAQ: ASTL) has announced its upcoming Q2 2025 financial results release and conference call scheduled for July 29-30, 2025. The company provided preliminary guidance, expecting total steel shipments of 472,000 tons and Adjusted EBITDA between ($30) million to ($35) million Canadian.CEO Michael Garcia highlighted strength in the plate business despite macroeconomic uncertainties and tariff policy impacts. Notably, the company achieved a significant milestone with first arc and steel production from unit one of its electric arc furnace project, marking progress in its transformation towards becoming one of North America's most environmentally-friendly steel producers.

#ASTL #ASTLW Algoma Steel Announces Conference Call and Provides Guidance for the Second Quarter 2025

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8 months ago

Algoma Steel Launches Volta Green Steel Brand as New Electric Arc Furnace Slashes Emissions by 70% Algoma's new electric arc furnace begins production, marking Canada's largest industrial decarbonization project. Launches Volta green steel brand. See transformation details.

#ASTL #ASTLW Algoma Steel Announces First Arc and First Steel Production from its New Electric Arc Furnace Unit One

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8 months ago

Algoma Steel Group Inc. Announces Results of Voting at Annual Meeting of Shareholders Algoma Steel Group (NASDAQ: ASTL), a leading Canadian steel producer, held its annual shareholder meeting on June 24, 2025. All nominated directors were successfully elected with strong shareholder support, with voting percentages ranging from 91-98% in favor for most nominees. The shareholders also approved the appointment of Deloitte LLP as auditors for 2025 and passed a non-binding advisory resolution on executive compensation.Notable voting results showed David D. Sgro receiving the lowest approval rate with approximately 91% of votes in favor, while Michael Garcia received the highest support with about 98% of votes in favor.

#ASTL #ASTLW Algoma Steel Group Inc. Announces Results of Voting at Annual Meeting of Shareholders

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10 months ago

Algoma Steel Group Reports Financial Results for the First Quarter 2025 Algoma Steel Group reported its Q1 2025 financial results, with consolidated revenue of $517.1 million and shipments of 470K tons. The company posted a net loss of $24.5 million and an Adjusted EBITDA loss of $46.7 million, which includes a $50 million insurance proceeds receivable. Key highlights include an 11% quarter-over-quarter increase in plate product shipments and the anticipated first steel production from their new Electric Arc Furnace (EAF) during Q2 2025. The company maintains its total project cost estimates and 2025 EAF production expectations despite winter-related delays. The quarter faced challenges including U.S. tariff uncertainty and subdued market conditions. Algoma incurred $10.5 million in tariff costs and experienced higher natural gas and electric power pricing. The company's EAF transformation aims to reduce annual carbon emissions by 70% and achieve a raw steel production capacity of 3.7 million tons. A quarterly dividend of US$0.05 per share was declared.

#ASTL #ASTLW Algoma Steel Group Reports Financial Results for the First Quarter 2025

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1 year ago

Algoma Steel Group Reports Financial Results for the Three and Nine Months Ended December 31, 2024 Algoma Steel Group (NASDAQ: ASTL) reported its financial results for Q4 and full year 2024. The company posted a Q4 consolidated revenue of $590.3 million, down from $615.4 million year-over-year, with a net loss of $66.5 million compared to $84.8 million loss in the prior year.Key Q4 metrics include:Shipments increased 6.3% to 548,802 tonsAdjusted EBITDA loss of $60.3 million with -10.2% marginAverage realized steel price of $976 per tonThe company's transformative Electric Arc Furnace (EAF) project is progressing with first steel production expected in April 2025. The cumulative investment reached $740.2 million, with contracted commitments totaling approximately $880 million. The EAF transition is anticipated to reduce annual carbon emissions by 70% and provide 3.7 million tons of annual raw steel production capacity.Notably, the company faces challenges from new U.S. tariffs on Canadian steel imports, which could materially impact financial performance. Algoma maintains a strong liquidity position with $266.9 million in cash and $361.8 million in unused credit facility availability.

#ASTL #ASTLW Algoma Steel Group Reports Financial Results for the Three and Nine Months Ended December 31, 2024

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1 year ago

When Will Algoma Steel Report Q3 Results? Key Date Change Investors Should Mark Algoma Steel will report Q3 results after market close on March 12, 2025, with investor call on March 13. Note the company's fiscal year now ends December 31.

#ASTL #ASTLW Algoma Steel to Announce Results for the Three and Nine Months Ended December 31, 2024 on March 12, 2025

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1 year ago

Algoma Steel Forecasts Q4 Loss, But EAF Project Advances Toward Green Steel Future Algoma Steel projects $55-65M Q4 EBITDA loss amid market challenges, while its transformative Electric Arc Furnace project begins cold commissioning for 2025 launch.

#ASTL #ASTLW Algoma Steel Provides Guidance for the Quarter Ended December 31, 2024

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