Algoma Steel Group (TSE:ASTL)
TSX:ASTL
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Earnings Data
Report Date
Aug 04, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.89Last Year’s EPS
-1.02Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The earnings call conveyed a balanced message: meaningful operational progress (successful EAF ramp, record plate sales, improved per‑tonne realization and an $18M underlying EBITDA improvement) and solid liquidity provide a clear path toward stabilization. However, the quarter was a planned transitional trough with steep volume and revenue declines (shipments -52.4%, revenue -42.4%), a large capacity utilization charge ($90.2M), material tariff costs (CAD 27.4M) and ongoing market and legal uncertainties. Management expects capacity charges to be eliminated by Q4 and a path to breakeven, but near‑term volumes and pricing headwinds (coil oversupply, sheet weakness) present significant challenges.Company Guidance
EAF Ramp-Up and Operational Progress
Unit 1 electric arc furnace (EAF) and associated melt shop are performing as designed on a 24/7 schedule, producing low‑carbon steel and demonstrating stable metallurgical quality — establishing the operational foundation for Algoma's transition to a fully EAF-based platform.
Record Plate Sales and Improved Pricing
Record plate sales of 116,000 net tonnes in Q1; deliberate mix shift toward higher‑value plate contributed to an average net sales realization of $1,193/tonne, up 21% versus $986/tonne in Q1 2025, supporting margin improvement despite lower volumes.
Underlying Adjusted EBITDA Improvement (Apples‑to‑Apples)
Reported adjusted EBITDA loss of $28.7 million (margin -9.7%) improved versus a loss of $46.7 million in Q1 2025. Management states an underlying adjusted EBITDA improvement of approximately $18 million when excluding capacity utilization adjustments and prior‑year insurance proceeds.
Material Liquidity and Working Capital Release
Total available liquidity of roughly $553 million at quarter end (cash $65.3M; $195M unused revolver; $292M LETL availability). Company released over $100 million of working capital during the quarter (slab inventory drawdown) and drew $126M under LETL (net of PIK) to offset operating cash consumption.
Lower Near‑Term Capital Spending and Expected Lower Sustaining CapEx
Q1 capital expenditures were $20.4 million, substantially below Q1 2025's $127 million. Management expects a materially lower maintenance CapEx profile going forward compared with historical sustaining capital of approximately $120 million annually due to newer EAF assets.
Strategic Partnerships and Diversification Moves
Announced Roshel Algoma Defence JV to produce ballistic steel and a binding MOU with Hanwha Ocean valued up to USD 250 million (including up to USD 200M toward a potential structural beam mill and up to USD 50M of anticipated product purchases tied to the CPSP), signalling strategic diversification into defense and structural products.
TSE:ASTL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:ASTL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 12, 2026 | C$6.86 | C$6.86 | 0.00% |
Mar 11, 2026 | C$5.90 | C$5.04 | -14.58% |
Oct 29, 2025 | C$5.97 | C$5.59 | -6.37% |
Mar 12, 2025 | C$8.27 | C$8.86 | +7.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Algoma Steel Group (TSE:ASTL) report earnings?
Algoma Steel Group (TSE:ASTL) is schdueled to report earning on Aug 04, 2026, After Close (Confirmed).
What is Algoma Steel Group (TSE:ASTL) earnings time?
Algoma Steel Group (TSE:ASTL) earnings time is at Aug 04, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TSE:ASTL EPS forecast?
TSE:ASTL EPS forecast for the fiscal quarter 2026 (Q2) is -0.89.