Algoma Steel Group Reports Positive Q2 Adjusted EBITDA Amid Ongoing EAF Transition
Algoma Steel Group (NASDAQ:ASTL) reported positive adjusted EBITDA of C$13.8 million in the second quarter of 2026, driven by a C$45 million insurance settlement and improved pricing from its plate-first strategy. However, excluding this benefit, the company posted an adjusted EBITDA loss of approximately C$31 million due to lower shipment volumes caused by ongoing electric arc furnace (EAF) transition work. Plate shipments reached another record high at 125,000 tons in Q2 and average net sales realization rose 20.2% year-over-year to C$1,361 per ton. Algoma aims for annual plate production of around 600,000 tons by 2027 but expects a temporary dip in volumes during the third quarter due to planned maintenance and tie-in work. The EAF transition is nearing completion with the second unit expected to produce its first steel late in Q3. Algoma ended the quarter with C$437 million in available liquidity and anticipates about C$200 million in tax refunds for 2026.
Tickers: $ASTL
Topics: ebitda performance electric arc furnace transition steel industry