Algoma Steel Guides Q3 EBITDA to $(10)M–$(20)M on Weak Shipments
ASTL sits 33% above its 52-week low of $3.02.
Summary
Algoma Steel guided Q3 2026 Adjusted EBITDA to a loss of $(10)M–$(20)M, with steel shipments of ~145K tons. The guidance includes a $50M–$55M capacity utilization adjustment, which flatters the headline EBITDA figure; excluding it, the core loss is deeper. This follows the August 17 Lake Superior Power Plant outage that suspended EAF production and the subsequent resumption on August 29 under interim power arrangements. The company notes the LSP turbine has been replaced and power restored, and EAF Unit Two's first heat is expected soon, which could lift Q4 shipments. The weak Q3 outlook reflects the outage's lingering impact on volumes and margins, but the operational recovery signals a potential improvement in the run-rate.
At the time of this announcement, ASTL was trading at $4.01 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $434.3M. The 52-week trading range was $3.02 to $5.90. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.