Algoma Steel Q2 2026 loss narrows as insurance proceeds and FX gains offset tariff-hit shipments, higher operating loss

• Algoma Steel posted a Q2 net loss of C$ 96 million, narrower than C$ 110.6 million, helped by C$ 45 million insurance proceeds.
• Operating loss widened to C$ 134.2 million from C$ 85.1 million as shipment volumes fell 61.6% to 181,473 tons amid weaker demand.
• Average net sales realization rose to C$ 1,361 per ton from C$ 1,132, driven by a higher plate mix despite lower volumes.
• Direct tariff costs in cost of sales fell to C$ 18.7 million from C$ 64.1 million; U.S.-bound shipments dropped to 23% from 54%.
• Adjusted EBITDA turned positive at C$ 13.8 million from a loss of C$ 32.4 million, aided by lower fixed costs and improved product mix.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Algoma Steel Group Inc. published the original content used to generate this news brief on July 29, 2026, and is solely responsible for the information contained therein.