Algoma Steel management commentary attributes narrower Q3 2026 net loss primarily to absence of year-earlier impairment charge
Bitget2026/10/28 21:46- Algoma Steel's management commentary reported a third-quarter 2026 net loss of CAD 129.6 million versus CAD 485.1 million a year earlier.
- Management attributed the narrower loss primarily to the absence of a CAD 503.4 million impairment charge recorded a year earlier.
- Adjusted EBITDA improved to negative CAD 13.9 million, supported by higher steel prices, a stronger plate shipment mix and lower fixed costs.
- Revenue fell 52.4% to CAD 249.4 million as lower sheet shipments outweighed higher selling prices.
- Steel shipments declined 65.5%, reflecting the accelerated electric arc furnace transition, tariffs affecting exports and the Lake Superior Power outage.
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