Welcome to our dedicated page for Algoma Steel Grp news (Ticker: ASTL), a resource for investors and traders seeking the latest updates and insights on Algoma Steel Grp stock.
Algoma Steel Group Inc. produces plate and sheet steel in Canada, with common shares traded on Nasdaq and the TSX under ASTL. Company news centers on steel shipments, revenue, Adjusted EBITDA, financial guidance, and the operating shift from blast furnace and coke oven production to electric arc furnace steelmaking.
Recurring updates also cover Volta, Algoma's brand for steel produced through its EAF technology, the modernized plate mill, and supply relationships tied to energy, defense, automotive, shipbuilding, infrastructure, and construction markets. Corporate news includes completed government financing, common-share warrant issuance, and defence-oriented partnerships such as Roshel Algoma Defence for ballistic steel production.
Algoma Steel (NASDAQ:ASTL, TSX:ASTL) reported Q1 2026 results reflecting its transition to electric arc furnace (EAF) steelmaking and a tougher tariff environment.
Revenue was $296.9 million, with a net loss of $159.4 million and Adjusted EBITDA loss of $28.7 million. Shipments fell to 223,681 tons amid the shift to plate-focused production, but average net sales realization rose to $1,193 per ton. EAF Unit 1 is fully operational, construction of Unit 2 is nearing completion, and plate sales reached a record 116,000 NT. Direct tariff costs increased to $27.4 million. Liquidity totaled about $553 million, and capital expenditures declined to $20.4 million. Algoma also formed the Roshel Algoma Defence joint venture and maintained a US$250 million-potential MOU with Hanwha Ocean.
Algoma Steel (NASDAQ: ASTL; TSX: ASTL) will release its 2026 first quarter financial results after market close on May 12, 2026. A live webcast and conference call to review results and answer questions is scheduled for May 13, 2026 at 11:00 a.m. ET.
Investors can access the live webcast and archived replay on the company’s Investors website. Dial-in and replay numbers with passcode are provided for domestic and international callers.
Algoma Steel (NASDAQ: ASTL) and Roshel formed Roshel Algoma Defence Solutions Inc. (RADS), a joint venture to produce sovereign ballistic steel and provide full-cycle metal fabrication in Sault Ste. Marie, Ontario.
RADS aims to support Canadian defence procurements—including LUVs, DAME, ships and submarines—serve adjacent industries, enable exports to allies, and create over 500 jobs.
Algoma Steel Group (NASDAQ: ASTL) provided Q1 2026 guidance for the quarter ended March 31, 2026. Total steel shipments are expected at approximately 220,000 tons. Adjusted EBITDA is expected to be negative $25 million to negative $35 million, which includes a $90–$95 million capacity utilization adjustment tied to EAF ramp-up. The company completed the wind-down of blast furnace and coke oven operations and has fully transitioned to Electric Arc Furnace (EAF) steelmaking after close to $1 billion of investment, producing its low‑carbon Volta brand. Management expects EAF-driven structural cost improvements to deliver sequential Adjusted EBITDA improvement despite near-term demand softness.
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).
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.
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.
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.
Algoma Steel (NASDAQ: ASTL; TSX: ASTL) completed a $500 million government financing on Nov 17, 2025.
The package comprises $400 million from Canada Enterprise Emergency Funding Corporation (including an $80 million secured tranche) and $100 million from the Province of Ontario (including a $20 million secured tranche). Algoma issued 6.77 million common share purchase warrants exercisable at $11.08 per share for a 10-year term, vesting with unsecured draws. The company said the seven-year facilities strengthen the balance sheet and provide liquidity to advance its Electric Arc Furnace (EAF) transformation and near-term operational milestones.
Algoma Steel (NASDAQ: ASTL) announced a planned leadership transition: CFO Rajat Marwah will become President and CFO on Nov 1, 2025 and will assume the role of CEO on Jan 1, 2026, succeeding Michael Garcia upon his retirement at year‑end. Michael Moraca will be appointed CFO effective Jan 1, 2026.
The company said liquidity support has been secured from federal and provincial governments and that steel is being produced at its Electric Arc Furnace, framing the transition as timely for Algoma’s EAF-driven transformation.