Algoma Central 2Q Profit, Revenue Rise
Dow Jones2026/08/07 13:03By Adriano Marchese
Algoma Central reported higher profit in the second quarter amid broad-based strength across its segments drove revenue higher.
The marine-transportation company on Friday posted an increase in net income to 35.6 million Canadian dollars ($25.4 million), or C$0.88 a share, up from C$32.9 million, or C$0.81 a share, in the comparable quarter a year earlier.
Earnings before interest, taxes, depreciation and amortization rose to C$82.1 million from C$72.6 million.
Revenue rose to C$258.3 million from C$211.7 million, driven by stronger results in the company's domestic dry-bulk, product tanker and ocean self-unloader segments.
Looking ahead, Algoma Central expects sustained demand for spot grain, salt and domestic fuel shipments to maintain full fleet utilization across its dry-bulk and product tanker segments for the remainder of 2026.
The company said it is monitoring potential U.S. tariffs on Canadian goods, but noted that management doesn't anticipate a material impact on its financial performance for the year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
August 07, 2026 09:03 ET (13:03 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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