Algoma Steel Q2 FY26 net loss narrows to CAD 96 million; revenue falls to CAD 267.5 million
ASTL•Second EAF unit nears completion
Construction of the second EAF unit neared completion, with first steel expected in Q3 2026.
Total available liquidity was about CAD 437 million.
EBITDA improves with insurance proceeds as tariff costs decline
IFRS EBITDA improved to a loss of CAD 47.1 million. Non-GAAP adjusted EBITDA swung to CAD 13.8 million, helped by CAD 45 million in insurance proceeds.
Direct tariff costs declined to CAD 18.7 million, while U.S.-bound volumes fell to 23% of shipments from 54% a year earlier.
Q2 results show narrower net loss but lower revenue and shipments
Algoma Steel posted a Q2 FY26 net loss of CAD 96 million, narrowing from a year earlier, while the operating loss widened to CAD 134.2 million.
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