Algoma Steel Grp Stock Price, News & Analysis

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" ]

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.

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.

Algoma Steel (NASDAQ: ASTL) has achieved a significant milestone with its first steel production at Unit One of its new electric arc furnace (EAF) facility. This breakthrough follows over ten days of successful electric arc testing and marks a crucial step in Canada's largest industrial decarbonization project.

The company introduced its new green steel brand "Volta", which will be produced through the EAFs. Powered by Ontario's clean electricity grid, this innovative production method has the potential to reduce carbon emissions by up to 70%. The project, which began construction in November 2021, represents a major advancement in Algoma's transformation towards sustainable steel production.

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.

Algoma Steel Group (NASDAQ: ASTL; TSX: ASTL) has released its 2024 Sustainability Report, covering April 1 to December 31, 2024. The report highlights the company's progress in sustainability initiatives, particularly its transformative Electric Arc Furnace (EAF) project nearing completion. Once operational, the EAF is expected to reduce carbon emissions by approximately 70%, positioning Algoma as a leading Canadian green steel producer. The company has strengthened its enterprise risk management and integrated business planning frameworks, enhanced workplace safety measures, and improved community engagement. The report, aligned with SASB and TCFD standards, demonstrates Algoma's commitment to transparency and sustainable operations in Canada's steel industry.

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.

Algoma Steel Group (NASDAQ: ASTL; TSX: ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, has scheduled its 2025 first quarter financial results release for Tuesday, April 29, 2025, after market close.

The company will host a webcast and conference call on Wednesday, April 30, 2025, at 11:00 a.m. Eastern Time. The event will include a results review, recent events discussion, and Q&A session. Investors can access the webcast through the company's investor relations website at ir.algoma.com. Conference call participants can dial 877-425-9470 (domestic) or 201-389-0878 (international).

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 tons
• Adjusted EBITDA loss of $60.3 million with -10.2% margin
• Average realized steel price of $976 per ton

The 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.