Earnings summaries and quarterly performance for Algoma Steel Group.
Executive leadership at Algoma Steel Group.
Board of directors at Algoma Steel Group.
Research analysts who have asked questions during Algoma Steel Group earnings calls.
Ian Gillies
Stifel
8 questions for ASTL
Also covers: STN
David Ocampo
Cormark Securities
7 questions for ASTL
Also covers: ATS
James McGarragle
RBC Capital Markets
4 questions for ASTL
Also covers: CAE
Katja Jancic
BMO Capital Markets
4 questions for ASTL
Also covers: AA, ARCH, BTU +9 more
Katja Gencic
BMO Capital Markets
1 question for ASTL
Recent press releases and 8-K filings for ASTL.
Algoma Steel Group Inc. secures new loan agreements
ASTL
Debt Issuance
- Algoma Steel Inc., a subsidiary of Algoma Steel Group Inc., entered into secured and unsecured loan agreements on November 14, 2025, with His Majesty The King in Right of Ontario and Canada Enterprise Emergency Funding Corporation.
- A "Liquidity Trigger" is defined in the loan agreements, occurring when the Borrower's Liquidity surpasses $700,000,000.
- The company is required to submit annual audited financial statements within 120 days and unaudited quarterly financial statements within 60 days after the end of each respective fiscal period.
- Events of default under the agreements include failure to make payments on certain debt exceeding $50,000,000 or the delisting of common shares from the TSX or NASDAQ.
2 days ago
Algoma Steel completes C$500 million government financing transaction
ASTL
Debt Issuance
New Projects/Investments
- Algoma Steel Group Inc. completed a C$500 million financing transaction with the Governments of Canada and Ontario on November 17, 2025.
- The financing includes $400 million from the Canada Enterprise Emergency Funding Corporation (CEEFC) and $100 million from the Province of Ontario.
- As part of the transaction, Algoma issued 6,768,953 common share purchase warrants to CEEFC and Ontario, exercisable at $11.08 per share for a 10-year term.
- These seven-year facilities are intended to strengthen Algoma's balance sheet and provide financial flexibility to advance its Electric Arc Furnace (EAF) transformation.
4 days ago
Algoma Steel Group Inc. Completes $500 Million Government Financing
ASTL
Debt Issuance
New Projects/Investments
- Algoma Steel Group Inc. completed a $500 million financing transaction with the Governments of Canada and Ontario on November 17, 2025.
- The financing comprises $400 million from the Canada Enterprise Emergency Funding Corporation (CEEFC) and $100 million from the Province of Ontario.
- These seven-year facilities are aimed at strengthening Algoma's balance sheet and providing financial flexibility to advance its Electric Arc Furnace (EAF) transformation.
- Algoma issued 6.77 million common share purchase warrants to CEEFC and Ontario, exercisable at $11.08 for a 10-year term, vesting proportionately as unsecured draws are made.
Nov 17, 2025, 2:03 PM
Algoma Steel Group Inc. Reports Q3 2025 Results, Announces Strategic Pivot and Leadership Changes
ASTL
Earnings
Management Change
New Projects/Investments
- Algoma Steel Group Inc. reported a net loss of $485.1 million for Q3 2025, primarily due to a $503 million non-cash impairment loss, and an Adjusted EBITDA loss of $87.1 million.
- The company's Q3 2025 net sales were $473 million on 419,000 net tons shipped, with U.S. 50% tariffs contributing $90 million to tariff costs.
- To bolster liquidity, Algoma secured $500 million in government loan facilities and expanded its ABL credit facility to $375 million.
- The Electric Arc Furnace (EAF) project's cumulative investment reached $910 million as of September 30, 2025, with an expected total cost of $987 million, as the company accelerates its EAF transformation and pivots to focus on the Canadian market.
- Rajat Marwah will assume the role of CEO and Michael Morocco will become CFO, effective January 1, 2026, following the retirement of current CEO Michael Garcia.
Oct 30, 2025, 3:00 PM
Algoma Steel Group Reports Third Quarter 2025 Financial Results
ASTL
Earnings
Profit Warning
Dividends
- Algoma Steel Group Inc. reported a net loss of $485.1 million for the third quarter of 2025, which included a non-cash impairment loss of $503.4 million, compared to a net loss of $106.6 million in the prior-year quarter. Consolidated revenue for the quarter was $523.9 million, and the company recorded an Adjusted EBITDA loss of $87.1 million.
- The company is accelerating its Electric Arc Furnace (EAF) transition, with plans to transition to a five-day-per-week operating schedule in mid-November 2025. To support its operations and strategic transformation, Algoma Steel has secured C$500 million in liquidity support, comprising C$400 million from the Government of Canada and C$100 million from the Province of Ontario.
- U.S. trade actions, including a 50% tariff on steel imports, continued to impact results, leading to a $32 million reduction in Canadian sales revenue and $89.7 million in direct tariff costs for the third quarter of 2025.
- To preserve liquidity and financial flexibility, the Board of Directors has made the decision to suspend the regular quarterly dividend on the company's common shares.
Oct 29, 2025, 11:10 PM
Algoma Steel Group Reports Q3 2025 Financial Results
ASTL
Earnings
Guidance Update
Demand Weakening
- Algoma Steel Group reported consolidated revenue of $523.9 million for the third quarter of 2025, a decrease from $600.3 million in the prior-year quarter, resulting in a net loss of $485.1 million compared to a net loss of $106.6 million in Q3 2024.
- The company recorded a non-cash impairment loss of $503.4 million in Q3 2025, contributing to an Adjusted EBITDA loss of $87.1 million, a significant decline from the Adjusted EBITDA of $3.5 million in the prior-year quarter.
- Algoma is advancing its electric arc furnace (EAF) ramp-up, with plans to transition to a five-day-per-week operating schedule in mid-November 2025, and has strengthened its liquidity with $500 million in government support.
Oct 29, 2025, 9:00 PM
Algoma Steel Provides Q3 2025 Guidance and Announces Board Update
ASTL
Guidance Update
Board Change
New Projects/Investments
- Algoma Steel Group Inc. provided guidance for the quarter ended September 30, 2025, expecting total steel shipments of 415,000 – 420,000 net tons.
- The company anticipates an Adjusted EBITDA of negative $80 million – negative $90 million (Canadian dollars) for the quarter ended September 30, 2025.
- A significant operational milestone was achieved in July 2025 with the first arc and first steel from its electric arc furnace (EAF).
- David Sgro resigned from Algoma's board of directors for personal reasons.
Oct 2, 2025, 12:59 AM
Algoma Steel Provides Q3 2025 Guidance and Announces Board Update
ASTL
Guidance Update
Board Change
New Projects/Investments
- Algoma Steel Group Inc. provided guidance for the quarter ended September 30, 2025.
- The company anticipates total steel shipments of approximately 415,000 – 420,000 net tons and an Adjusted EBITDA of negative $80 million – negative $90 million (Canadian dollars) for the quarter.
- David Sgro has resigned from the board of directors for personal reasons.
Oct 1, 2025, 9:30 PM
ASTL
Debt Issuance
New Projects/Investments
Demand Weakening
Sep 29, 2025, 9:17 PM
Algoma Steel Secures C$500M Government Liquidity Support
ASTL
Debt Issuance
New Projects/Investments
Demand Weakening
- Algoma Steel secured a C$500 million liquidity support package from the Canadian federal (C$400 million) and Ontario provincial (C$100 million) governments.
- This financial aid aims to help the company navigate the impact of U.S. steel tariffs, support its business transformation, and maintain approximately 2,500 full-time jobs.
- The company reported a $110-million loss in Q2 2025, which its CEO attributed to the challenges caused by U.S. steel tariffs.
Sep 29, 2025, 12:40 PM
Quarterly earnings call transcripts for Algoma Steel Group.
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