Algoma Steel sees Q2 adjusted EBITDA -$5M to $5M; total steel shipments of 510K-520K tons Sep. 27, 2024 1:54 AM ET By: Meghavi Singh , SA News Editor [Seeking Alpha]
Algoma Steel Group Inc. (ASTL)
Company Research
Source: Seeking Alpha
ending September 30 total steel shipments of 510K-520K tons and adjusted EBITDA of C$5M to negative C$5M. Algoma ( ASTL ) said Q2 adjusted EBITDA guidance includes the initial recovery of insurance proceeds estimated at approximately C$20M. CEO Michael Garcia said, "Our operations are performing in line with expectations for the fiscal second quarter, despite operating against a backdrop of challenging market conditions for steel demand and pricing." "Importantly, we remain on track with our electric arc furnace project, with commissioning activities expected to begin by calendar year-end. This milestone will mark the beginning of Algoma Steel's transformation into one of the most environmentally sustainable steel producers in North America," he added. Recommended For You More Trending News Recommended For You More Trending News Related Stocks In The News Trending Analysis Trending News
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ASTL
Earnings
- 11/6/24 - Miss
ASTL
Sec Filings
- 11/8/24 - Form SC
- 11/7/24 - Form 6-K
- 11/5/24 - Form SC
- ASTL's page on the SEC website