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GlobeNewswire·

Algoma Steel Group Inc. Provides Guidance for the Second Quarter 2026

  • Algoma Steel Group Inc. provided guidance for the quarter ended June 30, 2026, with total steel shipments expected between 175,000 & 180,000 tons.
  • Adjusted EBITDA for the quarter is projected to range from $5 million to $15 million, inclusive of a $45 million insurance settlement benefit & a $50 million to $55 million capacity utilization adjustment.
  • CEO Rajat Marwah noted record plate sales & continued ramp-up of the first electric arc furnace (EAF) unit despite broader market pressures.
  • The company plans to bring its second EAF unit online in the second half of 2026 to complete its transformation & reach full expected capacity.
  • Algoma is advancing its Canada-centric strategy to navigate tariff headwinds & is well-positioned to meet demand in infrastructure, construction, & defence sectors.
  • Algoma's transition to EAF steelmaking powered by Ontario's clean grid is expected to reduce carbon emissions by approximately 70% once fully operational.
  • The new green steel brand, Volta™, represents steel produced via EAF technology with significantly lower emissions while maintaining trusted performance.