Quarterly UpdatesJun 30, 2026, 05:31 PM
Algoma Steel Q2 2026 Guidance: Adjusted EBITDA $5M-$15M
AI Summary
Algoma Steel Group Inc. provided guidance for its second quarter ended June 30, 2026, expecting total steel shipments between 175,000 and 180,000 tons. Adjusted EBITDA is projected to be in the range of $5 million to $15 million, significantly bolstered by a $45 million insurance settlement and a $50 million to $55 million capacity utilization adjustment benefit. CEO Rajat Marwah noted continued resilience with record plate sales and the first EAF unit ramp-up, despite broader market conditions impacting shipment volumes, and anticipates the second EAF unit to come online in the second half of the year.
Key Highlights
- Expected steel shipments for Q2 2026 are 175,000 to 180,000 tons.
- Adjusted EBITDA for Q2 2026 is expected to be $5 million to $15 million.
- Adjusted EBITDA includes a $45 million insurance settlement from a January 2024 incident.
- Adjusted EBITDA also includes a $50 million to $55 million capacity utilization adjustment benefit.
- The first electric arc furnace (EAF) unit continues to ramp up as expected.
- The second EAF unit is expected to come online in the second half of the year.
- The company is making progress on a Canada-centric strategy despite tariff headwinds.
Price Impact
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