Algoma Steel Provides Fiscal Second Quarter 2025 Guidance

Core Insights - Algoma Steel Group Inc. expects total steel shipments for fiscal 2025 second quarter to be between 510,000 to 520,000 tons, with Adjusted EBITDA projected to range from $5 million to negative$5 million, including an estimated recovery of insurance proceeds of approximately $20 million [1][2] Company Overview - Algoma Steel is a leading Canadian producer of hot and cold rolled steel sheet and plate products, based in Sault Ste. Marie, Ontario, and is the only producer of discrete plate products in Canada [3][4] - The company aims to deliver customer-driven product solutions across various sectors, including automotive, construction, energy, defense, and manufacturing [3] Operational Performance - The company’s operations are performing in line with expectations despite challenging market conditions for steel demand and pricing [2] - Algoma is on track with its Electric Arc Furnace (EAF) project, with commissioning activities expected to begin by the end of the calendar year, marking a significant step towards becoming one of the most environmentally sustainable steel producers in North America [2][4] Environmental Commitment - Algoma is modernizing its plate mill and adopting electric arc technology to significantly lower carbon emissions, emphasizing its commitment to recycling and environmental stewardship [4]