Algoma Steel

Algoma Steel Group Reports Fiscal Third Quarter 2024 Financial Results

Retrieved on: 
Tuesday, February 6, 2024
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SAULT STE. MARIE, Ontario, Feb. 06, 2024 (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 results for its fiscal third quarter ended December 31, 2023.

Key Points: 
  • MARIE, Ontario, Feb. 06, 2024 (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 results for its fiscal third quarter ended December 31, 2023.
  • As compared with the prior year quarter, steel revenue was $556.9 million, compared to $512.0 million, and revenue per ton of steel sold was $1,192, compared to $1,239.
  • Net loss in the third quarter was $84.8 million, compared to a loss of $69.8 million in the prior-year quarter.
  • We compensate for these limitations by relying primarily on our IFRS results using such measures only as supplements to such results.

Algoma Steel Group Reports Fiscal Second Quarter 2024 Financial Results

Retrieved on: 
Thursday, November 2, 2023
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SAULT STE. MARIE, Ontario, Nov. 02, 2023 (GLOBE NEWSWIRE) --  (November 2, 2023) – 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 results for its fiscal second quarter ended September 30, 2023.

Key Points: 
  • MARIE, Ontario, Nov. 02, 2023 (GLOBE NEWSWIRE) --  (November 2, 2023) – 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 results for its fiscal second quarter ended September 30, 2023.
  • Michael Garcia, the Company’s Chief Executive Officer, commented, “We delivered results in the fiscal second quarter that were in line with our previously disclosed outlook.
  • Net income in the second quarter was $31.1 million, compared to net income of $87.2 million in the prior-year quarter.
  • Upon dialing in, please request to join the Algoma Steel Second Quarter Conference Call.

Algoma Steel Group Reports Fiscal 2024 First Quarter Financial Results

Retrieved on: 
Thursday, August 10, 2023
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SAULT STE. MARIE, Ontario, Aug. 10, 2023 (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 results for its fiscal first quarter ended June 30, 2023.

Key Points: 
  • MARIE, Ontario, Aug. 10, 2023 (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 results for its fiscal first quarter ended June 30, 2023.
  • As compared with the prior year quarter, steel revenue was $754.5 million, compared to $877.4 million, and revenue per ton of steel sold was $1,453, compared to $1,738.
  • Net income in the first quarter was $130.9 million, compared to net income of $301.4 million in the prior-year quarter.
  • We compensate for these limitations by relying primarily on our IFRS results using such measures only as supplements to such results.

Algoma Steel Reports Fatal Incident

Retrieved on: 
Friday, June 16, 2023
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MARIE, Ontario, June 16, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Company”), regrets to report a fatal incident involving an employee of a contractor who was retained to perform specialized maintenance work.

Key Points: 
  • MARIE, Ontario, June 16, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Company”), regrets to report a fatal incident involving an employee of a contractor who was retained to perform specialized maintenance work.
  • Algoma Steel Emergency Services personnel responded immediately with assistance from Sault Ste.
  • Algoma Steel Chief Executive Officer Michael D. Garcia commented, “We extend our sincere condolences to the family, friends, and colleagues affected by this devastating loss.
  • The safety and well-being of everyone in our workplace is a top priority and core value at Algoma Steel.

Algoma Steel Installs First Structural Columns for Electric Arc Steel Shop

Retrieved on: 
Thursday, February 16, 2023
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MARIE, Ontario, Feb. 16, 2023 (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 installed the first structural steel columns this week at its electric arc steelmaking facility (‘EAF’) in Sault Ste.

Key Points: 
  • MARIE, Ontario, Feb. 16, 2023 (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 installed the first structural steel columns this week at its electric arc steelmaking facility (‘EAF’) in Sault Ste.
  • Marie, Ontario Canada and Ontario Premier Doug Ford visited the site to commemorate the project milestone.
  • Algoma Steel partnered with Hamilton, ON-based Walters Group Inc. in fabricating and erecting the main EAF building and ancillary structures, which include leading technology to reduce sound and emissions.
  • Walters is using Algoma’s steel plate products in the fabrication of the heavy structural components, and working with local industrial contractor, SIS Manufacturing Inc., for the fabrication of these key elements.

Algoma Steel Group Reports Fiscal 2023 Third Quarter Results

Retrieved on: 
Monday, February 13, 2023
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SAULT STE. MARIE, Ontario, Feb. 13, 2023 (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 results for its fiscal third quarter ended December 31, 2022.

Key Points: 
  • MARIE, Ontario, Feb. 13, 2023 (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 results for its fiscal third quarter ended December 31, 2022.
  • As compared with the prior-year quarter, steel revenue was $512.0 million, down 49.3% from $1.01 billion, and revenue per ton of steel sold was $1,239, down 35.7% from $1,927.
  • Shipments for the third quarter decreased by 17.0% to 458,341 tons, compared to 552,544 tons in the prior-year quarter.
  • We compensate for these limitations by relying primarily on our IFRS results using such measures only as supplements to such results.

Algoma Steel and USW L2251 Reach Tentative Agreement

Retrieved on: 
Tuesday, August 23, 2022
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MARIE, Ontario, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) and United Steelworkers Local Union 2251 (2251), the union representing Algomas hourly employees, announced today that the parties have reached a tentative collective agreement.

Key Points: 
  • MARIE, Ontario, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (Algoma or the Company) and United Steelworkers Local Union 2251 (2251), the union representing Algomas hourly employees, announced today that the parties have reached a tentative collective agreement.
  • The Company will release details of the tentative agreement after the Union has held its information meetings with its members.
  • USW Local 2251 President Mike DaPrat remarked, We are pleased to inform our membership that we have been able to negotiate a fair agreement with Algoma Steel.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.

Algoma Steel Group Reports Fiscal 2023 First Quarter Results

Retrieved on: 
Wednesday, August 3, 2022
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SAULT STE. MARIE, Ontario, Aug. 03, 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 results for its fiscal first quarter ended June 30, 2022.

Key Points: 
  • MARIE, Ontario, Aug. 03, 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 results for its fiscal first quarter ended June 30, 2022.
  • Michael Garcia, the Companys Chief Executive Officer, commented, The momentum we established in fiscal 2022 continued with another quarter of strong results in what has been a volatile operational environment.
  • Our results continue to reflect our differentiated execution, along with the hard work and dedication of the entire Algoma team.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.

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

Retrieved on: 
Tuesday, July 19, 2022
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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 Hospitals (SAH) Residential Withdrawal Management Facility.

Key Points: 
  • 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 Hospitals (SAH) Residential Withdrawal Management Facility.
  • The new facility will provide twenty residential withdrawal management beds and safe beds in a completely renovated space.
  • Our team at Algoma is proud to support the Sault Area Hospital in their construction of a Residential Withdrawal Management Facility.
  • On behalf of the Sault Area Hospital, our patients, and our health care workers, I extend our sincere gratitude and appreciation to Algoma Steel for their generous donation of $1 million to support and enhance care for individuals accessing care at our new Residential Withdrawal Management facility, said Ila Watson, President & CEO, of Sault Area Hospital.

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

Retrieved on: 
Thursday, June 23, 2022
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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.

Key Points: 
  • 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 2022s profit share represents the highest payments per employee in the Companys history.
  • Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate.
  • Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.