Algoma Steel (US:ASTL)2025-10-30 15:00Financial Performance - Q3 2025 shipping volume was 419K NT, a decrease of 19% compared to 520K NT in Q3 2024 and a decrease of 11% compared to 472K NT in Q2 2025[21] - Steel revenue in Q3 2025 was $473 million, down 12% from $539 million in Q3 2024 and down 11% from $534 million in Q2 2025[21] - Adjusted EBITDA for Q3 2025 was $(87) million, a decrease of $91 million from $4 million in Q3 2024 and a decrease of $55 million from $(32) million in Q2 2025[21] - Net loss in Q3 2025 was $(485) million, a decrease of $378 million from $(107) million in Q3 2024 and a decrease of $374 million from $(111) million in Q2 2025[21] - Adjusted EBITDA margin for Q3 2025 was -166%[21] Strategic Initiatives - The company is accelerating the retirement of blast furnace and coke oven operations as it ramps up EAF production through 2025 and 2026[28] - The company achieved first heat for EAF 1 in July 2025[37] - Construction is progressing on EAF 2, with commissioning activities expected in early 2026[37] Market Factors - Steel tariffs of 50% persist on imported steel into the US[34] - There is a current oversupply in the Canadian coil market due to the US market being cut off from Canadian steel mills[34] Safety - The company is implementing an ISO 45001 Safety Management System to further improve health and safety performance[17]