Algoma Steel Q2 2026 loss narrows as insurance proceeds and FX gains offset tariff-hit shipments, higher operating loss
ASTL•Operating loss widens as shipments fall
Operating loss widened to C$ 134.2 million from C$ 85.1 million as shipment volumes fell 61.6% to 181,473 tons amid weaker demand.
Average net sales realization rose to C$ 1,361 per ton from C$ 1,132, driven by a higher plate mix despite lower volumes.
Q2 loss narrows on insurance proceeds and FX gains
Algoma Steel posted a Q2 net loss of C$ 96 million, narrower than C$ 110.6 million, helped by C$ 45 million insurance proceeds.
Adjusted EBITDA turned positive at C$ 13.8 million from a loss of C$ 32.4 million, aided by lower fixed costs and improved product mix.
Tariff exposure eases as U.S.-bound shipments decline
Direct tariff costs in cost of sales fell to C$ 18.7 million from C$ 64.1 million; U.S.-bound shipments dropped to 23% from 54%.
