Algoma Steel Group Inc (NAS:ASTL)

Q2 2026 Algoma Steel Group Inc Earnings Call Transcript

Jul 30, 2026 / 03:00 PM GMT

Release Date Price: $3.84 (-10.19%)

Transcript

Key Points

Positve

Generated positive adjusted EBITDA of $13.8 million, in line with guidance, despite a challenging industry backdrop.
Delivered a second consecutive quarter of record plate sales, with shipments of 125,000 tons, up from 116,000 tons in Q1.
Average net sales realization rose 20% year-over-year to $1,361 per ton, driven by improved product mix under the plate-first strategy.
Transition costs are declining meaningfully and are on track to be fully eliminated by the fourth quarter of 2026.
Construction of the second EAF unit is nearing completion, with first steel production expected later in the quarter, positioning the company for increased capacity.

Negative

Shipments fell sharply to 181,000 tons from 472,000 tons in the prior year quarter due to the EAF transition and pivot to Canadian markets.
Cost per ton of steel products sold increased to $1,411 from $1,144, reflecting lower fixed cost absorption during the ramp-up.
The company incurred $18.7 million in direct tariff costs from U.S. Section 232 tariffs, though down from the prior quarter.
Third-quarter shipments are expected to decline 10% to 20% sequentially due to planned maintenance and tie-in activities for Unit 2.
The strategic MOU with Hanwha Ocean was suspended after the Canadian government selected a different preferred bidder for the submarine program.

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

ASTL.OQ - Algoma Steel Group Inc
Q2 2026 Algoma Steel Group Inc Earnings Call
Jul 30, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings. Welcome to the Algoma Steel Group, Inc. Second 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 during the conference, please press *0 on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Laura Devoney, Vice President of Human Resources and Corporate Affairs.

Thank you, Laura. You may begin.

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Unidentified_2 [2]
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