Algoma Steel Group

Algoma Steel Group, Inc. engages in the production of hot and cold rolled steel products. Its products include Sheet and Plate. The firm offers its products for automative, construction, infrastructure, energy, defense, transportation, and manufacturing industries. The company was founded on March 23, 2021 and is headquartered in Sault Ste. Marie, Canada.

Earnings data Q3 2022

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Algoma Steel Q4 Earnings: Operational Challenges Impact Profits

Algoma Steel's Q4 2024 faced operational setbacks that heavily impacted financial results, yet the company is making strategic adjustments and significant investments in sustainability and efficiency improvements. With the EAF project on track and a strategic market focus shift, Algoma is poised for recovery and improved performance in the upcoming fiscal year.

Algoma Steel Group reports resilient Q2 performance amid market challenges

Algoma Steel Group's Q2 performance reflects financial stability and operational resilience amidst market challenges.
The company's strong liquidity, focus on employee safety, and progress on the EAF project are key strengths driving future success.
While facing challenges from market conditions and financial complexities, Algoma has opportunities to leverage environmental programs and strategic initiatives for growth.

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Algoma Steel Group, Inc. engages in the production of hot and cold rolled steel products. Its products include Sheet and Plate. The firm offers its products for automative, construction, infrastructure, energy, defense, transportation, and manufacturing industries. The company was founded on March 23, 2021, and is headquartered in Sault Ste. Marie, Canada.

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Skyrocketing inflation has spurred demand for investments that can keep pace with rising prices. This includes renewed interest in income-paying investments, including both old and new dividend stocks.

12 of Wall Street's Newest Dividend Stocks

SAULT STE. MARIE, Ontario, April 25, 2022 (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, today announced that it has awarded the structural building contract for its electric arc steelmaking facility (“EAF”) to Hamilton, ON-based Walters Group Inc. (“Walters”). Walters will be responsible for fabricating and erecting the main building structure in addition to the necessary dust collection hoods.

Algoma Steel Awards Building Contract to Walters Group

Transition to take effect June 1st, 2022 Transition to take effect June 1st, 2022

Algoma Steel Announces Appointment of New CEO upon Retirement of Michael McQuade

SAULT STE. MARIE, ONTARIO, April 08, 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 commented on Ontario's newly announced Northern Ontario Energy Advantage Program (“NEAP”), an important program for Algoma as it pursues its transition to electric arc furnace (“EAF”) steelmaking.

Algoma Steel Comments on Ontario's Recently Announced Northern Energy Advantage Program

SAULT STE. MARIE, Ontario, March 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 provided guidance for its fiscal fourth quarter 2022.

Algoma Steel Provides Fiscal Fourth Quarter 2022 Guidance

SAULT STE. MARIE, Ontario, March 01, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”) announced today that the Toronto Stock Exchange (the “TSX”) has approved the Company's intention to make a normal course issuer bid (“NCIB”) for a portion of its common shares (“Shares”) as appropriate opportunities arise from time to time. The Company believes that the market price of the Shares may not, from time to time, fully reflect their value and accordingly the purchase of Shares would be in the best interests of the Company and an attractive use of available funds.

Algoma Steel Group Announces Approval of Normal Course Issuer Bid

SAULT STE. MARIE, Ontario, Feb. 25, 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 that the Company will present at the BMO 31st Global Metals & Mining Conference on Tuesday, March 1, 2022 at 9:30 a.m. Eastern Time. Prior to Algoma's attendance at this conference, the Company will post a copy of the presentation in the Investors section of its website.

Algoma Steel Group to Present at the BMO 31st Global Metals & Mining Conference

Algoma Steel Group Inc. (ASTL) CEO Michael McQuade on Q3 2022 Earnings Call Transcript

Algoma Steel recently completed its going-public process but its share price did not participate in the red-hot steel market. The underlying results are exceptionally strong as the company generated more than C$2/share in free cash flow in the most recent quarter.

Algoma Steel: Exceptional Steel Market Results In Record Performance

Continued Record Revenue, Adjusted EBITDA and Free Cash Flow Performance

Algoma Steel Group Announces Fiscal 2022 Third Quarter Results

SAULT STE. MARIE, Ontario, Jan. 31, 2022 (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 will release its fiscal 2022 third quarter financial results after the market closes on Thursday, February 10, 2022. A webcast and conference call will be held on Friday, February 11, 2022 at 11:00 a.m. Eastern Time to review the Company's fiscal third quarter results, discuss recent events, and conduct a question-and-answer session.

Algoma Steel to Announce Fiscal 2022 Third Quarter Results February 10, 2022

SAULT STE. MARIE, Ontario, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma Steel” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that it has awarded GE Gas Power (NYSE: GE) a contract for an upgrade to the Company's natural gas combined cycle power plant, including the installation of two gas turbine packages. The upgrade is expected to supply Algoma Steel with sufficient internal generation capability to power phase one of its transition to electric arc furnace (“EAF”) steelmaking.

Algoma Steel Awards Contract to GE to Provide Gas Turbines to Support Power Requirements of Electric Arc Steelmaking Transition

Expects all 37.5 million shares to be issued pursuant to Earnout rights

Algoma Steel Provides Fiscal 2022 Third Quarter Update

SAULT STE. MARIE, Ontario, Dec. 02, 2021 (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 that it has selected Danieli & C. Officine Meccaniche S.p.A (“Danieli”) as the sole technology provider for their new electric arc (EAF) steelmaking facility.

Algoma Steel Selects Danieli as Technology Provider for New Electric Arc Steelmaking Facility

Algoma Steel generated almost C$300M in net income and about C$273M in free cash flow in Q2, while the market cap is now less than C$2B. The free cash flow bonanza will likely continue for the next two quarters.

Algoma Steel Stock: Riding The Waves Of Higher Steel Demand

The Canada Infrastructure Bank and Algoma Steel Finalize Previously Announced Agreement to Finance Green Steel Transformation Plan

Algoma Steel recently returned to the public markets via a SPAC transaction with Legato Merger Corp.

Algoma Steel: Best Value In The Sector

Record Second Quarter Revenue, Adjusted EBITDA and Free Cash Flow Driven by Higher Price Realizations and Cost Containment Initiatives

Algoma Steel Group Announces Fiscal 2022 Second Quarter Results

Positions Algoma for Long-Term Growth as a Leading North American Producer of Green Steel Positions Algoma for Long-Term Growth as a Leading North American Producer of Green Steel

Algoma Steel Announces Final Investment Decision for Electric Arc Steelmaking

SAULT STE. MARIE, Ontario, Nov. 01, 2021 (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 will release its fiscal 2022 second quarter financial results after the market closes on Thursday, November 11, 2021. A webcast and conference call will be held on Friday, November 12, 2021, at 10:00 a.m. Eastern Time to review the Company's fiscal second quarter results, discuss recent events, and conduct a question-and-answer session.

Algoma Steel to Announce Fiscal 2022 Second Quarter Results November 11, 2021

SAULT STE. MARIE, Ontario, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (“Algoma”) (NASDAQ: ASTL; TSX: ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that it has entered into a joint venture with Triple M Metal LP (“Triple M”), one of North America's largest privately-owned ferrous and non-ferrous metal recycling companies, establishing a jointly owned company known as ATM Metals Inc. The new entity will source prime scrap metal and other iron units to meet Algoma's business needs, including in connection with its potential transformation to electric arc steelmaking.

Algoma and Triple M Metal Establish Metals Sourcing Joint Venture

SAULT STE. MARIE, Ontario, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (“Algoma”) (NASDAQ: ASTL; TSX: ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced its Chief Commercial Officer Robert Dionisi, has indicated his pending retirement effective May 1st, 2022. The Company has identified Rory Brandow, Algoma's current Director of Regional Sales to succeed Robert as Vice President of Sales.

Algoma Announces Retirement of Chief Commercial Officer

SAULT STE. MARIE, Ontario, Oct. 22, 2021 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (“Algoma”) (NASDAQ: ASTL; TSX: ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that S&P Global Ratings (“S&P”) has upgraded Algoma's issuer credit rating to ‘B-' from ‘CCC+', with a stable outlook.

Algoma Steel Receives Upgrade from S&P Global Ratings

SAULT STE. MARIE, Ontario., Oct. 22, 2021 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc., with operations based in Sault Ste. Marie, Ontario (“Algoma”) (NASDAQ: ASTL, ASTLW; TSX: ASTL, ASTL.WT), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced the addition of six new directors to its Board following the closing of Algoma's business combination with Legato Merger Corp. (“the Transaction”). The new directors expand the range of expertise offered, and underscore Algoma's commitment to bringing diverse perspectives and experience to the boardroom that reflect the broader interests of Algoma stakeholders.

News for Algoma Steel Group Stock (ASTL)