Algoma Steel (US:ASTL)2025-07-30 15:00Financial Performance - Shipping volume for Q2 2025 was 472K NT, a slight increase from 470K NT in Q1 2025 but a 6% decrease from 503K NT in Q2 2024[21] - Steel Revenue in Q2 2025 reached $534 million, up 15% from $463 million in Q1 2025 but down 11% from $597 million in Q2 2024[21] - Adjusted EBITDA for Q2 2025 was $(32) million, an increase of $15 million from $(47) million in Q1 2025 but a decrease of $70 million from $38 million in Q2 2024[21] - Net Income in Q2 2025 was $(111) million, down $86 million from $(25) million in Q1 2025 and down $117 million from $6 million in Q2 2024[21] - Adjusted EBITDA margin for Q2 2025 was -55%[21, 22] Strategic Initiatives - The company is progressing with its Electric Arc Furnace (EAF) transformation, with the first heat achieved in July 2025[39] - The EAF project is expected to reduce emissions by 70% and improve GHG performance[39] - Algoma commenced quarterly dividend of $005 per share[39] Market Factors - Increased US tariffs of 50% on imported steel and aluminum have disrupted global steel markets[36] - Tariffs on imported pig iron into the US are also expected to impact market dynamics[36]