Algoma Steel Group Inc (NAS:ASTL)

Q1 2026 Algoma Steel Group Inc Earnings Call Transcript

May 13, 2026 / 03:00 PM GMT

Release Date Price: $5 (+0.20%)

Transcript

Key Points

Positve

Algoma Steel Group Inc (ASTL) successfully transitioned to a fully electric arc furnace operation, marking a significant transformation in its production process.
The company achieved record plate sales of 116,000 net tonnes, driven by a strategic shift towards higher-value plate products.
Algoma Steel Group Inc (ASTL) has a unique competitive position as Canada's only producer of discrete plate, which supports its pricing resilience.
The company has established a joint venture with Rochelle, Inc. to create a Canadian Center of Excellence for ballistic steel production, enhancing its role in Canada's defense industrial base.
Algoma Steel Group Inc (ASTL) has a binding MOU with Hanwha Ocean, potentially valued at up to US $250 million, which could further strengthen its position in Canada's defense sector.

Negative

The company faced a significant decline in shipment volumes, down 52.4% compared to the prior-year period, due to the transition from blast furnace to electric arc furnace operations.
Algoma Steel Group Inc (ASTL) incurred Canadian $27.4 million in direct tariff costs due to the 50% U.S. Section 232 tariff on steel imports from Canada.
The Canadian market remains supply-pressured, with coil pricing affected by domestic oversupply and import offers.
Adjusted EBITDA for the quarter was a loss of $28.7 million, reflecting ongoing transition-related costs and reduced fixed cost absorption.
The company is still in the ramp-up phase of its new electric arc furnace platform, which has yet to stabilize and achieve full operational efficiency.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ASTL.OQ - Algoma Steel Group Inc
Q1 2026 Algoma Steel Group Inc Earnings Call
May 13, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Algoma Steel Group First Quarter 2026 Earnings Call.

At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance, please press *0 on your telephone keypad.

As a reminder, this conference is being recorded. It is now my pleasure to introduce Laura Devoney, Vice President of Human Resources and Corporate Affairs.

Please go ahead.

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Unidentified_2 [2]
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Good morning, everyone, and welcome

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