Algoma Steel reports Q2 loss of $96M, compared with $110.6M loss last year
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SAULT STE. MARIE – Algoma Steel Group Inc. reported a net loss of $96 million during the second quarter, compared with a net loss of $110.6 million during the prior-year quarter.
That amounted to a net loss per diluted share of 88 cents, compared to a net loss of $1.02 per diluted share during last year’s second quarter.
The Sault Ste. Marie, Ont.-based steel producer says its consolidated revenue reached $267.5 million during the period, falling year-over-year from $589.7 million.
The company says its shipments totalled 181,473 tons during the second quarter, compared with 472,056 tons a year earlier.
Algoma Steel says it incurred $18.7 million in direct tariff costs, compared with $64.1 million during last year’s second quarter.
Rajat Marwah, Algoma Steel CEO, says the company is Canada’s only producer of discrete plate and is positioned to serve growing infrastructure, construction and defence demand.
This report by The Canadian Press was first published July 29, 2026.
Companies in this story: (TSX: ASTL)