Algoma Steel Posts C$249.4M Q3 Revenue as Results Land
ASTL sits 52% above its 52-week low of $3.16.
Summary
Algoma Steel reported third-quarter revenue of C$249.4M and a loss per share of C$1.18, with shipments to the U.S. representing 24% of total 3Q steel shipments and C$18.1M in direct tariff costs incurred in the quarter. That lands against a rough setup: on October 1 the company guided Q3 Adjusted EBITDA to a loss of C$10M-C$20M on roughly 145K tons of shipments, following the August 17 unplanned outage at its Lake Superior Power Plant that forced it to suspend EAF production until August 29. The revenue line alone doesn't tell you whether the EBITDA loss came in better or worse than that range. For a company of this size, the gap between the guided loss and the actual result is what matters most. The full Q3 results and conference call follow on October 29.
At the time of this announcement, ASTL was trading at $4.80 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $522M. The 52-week trading range was $3.16 to $5.90. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.