Algoma Steel Group

Algoma Steel Group, Inc. engages in the production of hot and cold rolled steel products. Its products include Sheet and Plate. The firm offers its products for automative, construction, infrastructure, energy, defense, transportation, and manufacturing industries. The company was founded on March 23, 2021 and is headquartered in Sault Ste. Marie, Canada.

Earnings data Q3 2022

Earnings data Q4 2022

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Earnings data Q3 2025

Algoma Steel Q4 Earnings: Operational Challenges Impact Profits

Algoma Steel's Q4 2024 faced operational setbacks that heavily impacted financial results, yet the company is making strategic adjustments and significant investments in sustainability and efficiency improvements. With the EAF project on track and a strategic market focus shift, Algoma is poised for recovery and improved performance in the upcoming fiscal year.

Algoma Steel Group reports resilient Q2 performance amid market challenges

Algoma Steel Group's Q2 performance reflects financial stability and operational resilience amidst market challenges.
The company's strong liquidity, focus on employee safety, and progress on the EAF project are key strengths driving future success.
While facing challenges from market conditions and financial complexities, Algoma has opportunities to leverage environmental programs and strategic initiatives for growth.

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Algoma Steel Group, Inc. engages in the production of hot and cold rolled steel products. Its products include Sheet and Plate. The firm offers its products for automative, construction, infrastructure, energy, defense, transportation, and manufacturing industries. The company was founded on March 23, 2021, and is headquartered in Sault Ste. Marie, Canada.

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Iron and Steelmaking Operations Continue Normal Course Iron and Steelmaking Operations Continue Normal Course

Algoma Steel Reports Coke Conveyor Fire

Algoma Steel Group Inc. (ASTL) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Why Fast-paced Mover Algoma Steel Group Inc. (ASTL) Is a Great Choice for Value Investors

USW Local 2251 Refuses to Take it to a Vote USW Local 2251 Refuses to Take it to a Vote

Algoma Steel Tables Revised Best and Final Offer in Collective Agreement Negotiations with USW Local 2251

Algoma Steel Group Inc. (NASDAQ:ASTL ) Q1 2023 Earnings Conference Call August 4, 2022 11:00 AM ET Company Participants Michael Moraca - Treasurer and Investor Relations Officer Michael Garcia - Chief Executive Officer Rajat Marwah - Chief Financial Officer Conference Call Participants Dave Gagliano - BMO Capital David Ocampo - Cormark Securities Ahmad Shaath - Beacon Securities Ian Gillies - Stifel Anoop Prihar - Eight Capital Alexander Jackson - RBC Capital Markets Operator Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Algoma Steel Fiscal First Quarter 2023 Conference Call.

Algoma Steel Group Inc. (ASTL) CEO Michael Garcia on Q1 2023 Results - Earnings Call Transcript

Solid Revenue, Operational and Free Cash Flow Performance

Algoma Steel Group Reports Fiscal 2023 First Quarter Results

The mean of analysts' price targets for Algoma Steel Group Inc. (ASTL) points to an 86.9% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Does Algoma Steel Group Inc. (ASTL) Have the Potential to Rally 87% as Wall Street Analysts Expect?

SAULT STE. MARIE, Ontario, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ, TSX: ASTL) (“Algoma” or the “Corporation”) today announced the final results of its substantial issuer bid (the “Offer”) under which it has purchased for cancellation 41,025,641 of its common shares (“Shares”) at a purchase price of US$9.75 per Share, for an aggregate purchase price of approximately US$400 million. Shares purchased under the Offer represent approximately 27.9% of the issued and outstanding Shares at the time that the Offer was commenced. Immediately following completion of the Offer on July 27, 2022, 105,403,930 Shares were issued and outstanding.

Algoma Steel Announces Final Results of Substantial Issuer Bid

USW Local 2251 Has Agreed to Continue Working 15 Days Beyond the July 31, 2022 Contract Deadline USW Local 2251 Has Agreed to Continue Working 15 Days Beyond the July 31, 2022 Contract Deadline

Algoma Steel Announces 15 Day Extension

USW Local 2251 Has Refused to Bring the Offer to its Membership for a Vote

Algoma Steel Outlines Best and Final Offer in Collective Agreement Negotiations with USW Local 2251

SAULT STE. MARIE, Ontario, July 28, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ, TSX: ASTL) (“Algoma” or the “Corporation”) today announced the preliminary results of its substantial issuer bid (the “Offer”), which expired at 5:00 p.m. (Eastern Time) on July 27, 2022.

Algoma Steel Announces Preliminary Results of Substantial Issuer Bid

SAULT STE. MARIE, Ontario, July 26, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma' or “the Company”) reports it has been notified by United Steelworkers (“USW”) Local 2724, the union representing its technical, professional and front-line supervisory employees, that their members have successfully ratified their collective agreement, providing an enhanced economic package for their members and importantly setting out the process to transition the workforce to electric arc steelmaking.

Algoma Steel Notified by USW Local 2724 Agreement Ratified

SAULT STE. MARIE, Ontario, July 26, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2023 first quarter financial results after the market closes on Wednesday, August 3, 2022. A webcast and conference call will be held on Thursday, August 4, 2022 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session.

Algoma Steel to Announce Fiscal 2023 First Quarter Results August 3, 2022

SAULT STE. MARIE, Ontario, July 20, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Company”) announced today that the Company has reached a tentative agreement for a new labour contract with United Steelworkers (“USW”) Local 2724, the union representing its technical, professional and front-line supervisory employees. The current collective agreement expires July 31, 2022. Ratification votes are scheduled for July 21st through July 25th, 2022. The Company will not be releasing details of the tentative agreement until after the Union has held its information meetings.

Algoma Steel Reaches Tentative Agreement with USW Local 2724

SAULT STE. MARIE, Ontario, July 19, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced its donation of CDN $1 million to Sault Area Hospital Foundation (“SAHF”), in support of Sault Area Hospital's (“SAH”) Residential Withdrawal Management Facility.

Algoma Steel Donates $1 Million toward Sault Area Hospital Residential Withdrawal Management Facility

SAULT STE. MARIE, Ontario, July 18, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Company”) announced today that the Ontario Securities Commission (the “OSC”) has granted an exemptive relief order (the “Relief Order”) exempting Algoma from complying with the requirement that Algoma first takes up all of its common shares (the “Shares”) deposited under its currently underway substantial issuer bid (the “Offer”) before extending the expiration date of the Offer, if Algoma ultimately determines to extend the Offer in the circumstance where the Offer is undersubscribed.

Algoma Steel Group Announces OSC Relief in Substantial Issuer Bid

SAULT STE. MARIE, Ontario, June 23, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced fiscal 2022 returned $150.7 million in total profit share payouts for eligible employees. With the second installment scheduled for release on June 24th, fiscal 2022's profit share represents the highest payments per employee in the Company's history. All figures are in Canadian dollars unless otherwise stated.

Algoma Steel Distributes Over $150 Million in Employee Profit Sharing Program

SAULT STE. MARIE, Ontario, June 21, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Corporation”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced it is commencing its previously announced substantial issuer bid (the “Offer”) to purchase for cancellation up to US$400 million of its common shares (“Shares”). The Offer will expire at 5:00 p.m. (Eastern Time) on July 27, 2022, unless extended or withdrawn.

Algoma Steel Announces Commencement of US$400 Million Substantial Issuer Bid

SAULT STE. MARIE, Ontario, June 17, 2022 (GLOBE NEWSWIRE) -- Today Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), provided the following update to the community and neighbouring stakeholders regarding the June 9th accidental release of lubricant oil into the St. Mary's River.

Algoma Steel Provides Community Update Regarding Spill

Algoma Steel was trading at an EV/EBITDA ratio of 0.5 right before the earnings announcement. I have never seen anything like it. The company will spend US$400M on a Dutch auction stock buyback.

Algoma Steel: Superlatives Are Needed To Describe The Financial Performance

Algoma Steel leans on its strong balance sheet and issues a Substantial Issuer Bid. This is a huge share repurchase program, where Algoma will look to repurchase $400 million worth of stock in the coming month.

Algoma Steel Announces Massive Buyback, To Repurchase +30% In 30 Days

Algoma Steel Group Inc. (NASDAQ:ASTL ) Q4 2022 Earnings Conference Call June 15, 2022 11:00 AM ET Company Representatives Michael McQuade - Former Chief Executive Officer, Current Board Member Michael Garcia - New Chief Executive Officer Rajat Marwah - Chief Financial Officer Michael Moraca - Treasurer, Investor Relations Officer Conference Call Participants David Gagliano - BMO Capital Markets David Ocampo - Cormark Securities Anoop Prihar - VIII Capital Ahmad Shaath - Beacon Securities Alexander Jackson - RBC Capital Markets Kirk Ludtke - Imperial Capital Operator Greetings! And welcome to Algoma Steel Group Inc.'s Fourth Quarter 2022 Earnings Conference Call.

Algoma Steel Group Inc.'s (ASTL) CEO Michael Garcia on Q4 2022 Results - Earnings Call Transcript

Algoma stock costs only two times earnings -- and just more than doubled its profits.

Why Algoma Steel Stock Popped on Wednesday

Algoma Steel Group Inc. (NASDAQ: ASTL) shares are trading higher after the company reported fourth-quarter sales results up from last year. Algoma Steel Group Reported fourth-quarter sales $941.8M CAD, up from $638.5M CAD year-over-year.

Why Shares Of Canadian Steel Company Algoma Are Soaring

Record Full-Year Revenue, Adjusted EBITDA and Free Cash Flow Performance

News for Algoma Steel Group Stock (ASTL)