Algoma Steel Group Inc. Provides Guidance for Q1 2026

Algoma Steel Group Inc. has provided guidance for the first quarter of 2026, expecting total steel shipments of approximately 220,000 tons. Adjusted EBITDA is projected to be in the range of negative $25 million to negative $35 million. This guidance includes a capacity utilization adjustment benefit of $90 million to $95 million, accounting for excess fixed costs during the Electric Arc Furnace (EAF) ramp-up. The company has completed its transition to EAF steelmaking, a significant transformation involving nearly $1 billion in investment. Despite current demand softness affecting shipment volumes, Algoma anticipates sequential improvement in Adjusted EBITDA due to structural cost benefits from EAF steelmaking. The company is positioned as Canada's sole producer of discrete plate, aiming to serve growing demand in infrastructure, construction, and defense sectors. Algoma highlights its commitment to sustainable steelmaking with its Volta™ brand, produced via EAF technology with significantly lower emissions, leveraging Ontario's clean electricity grid.