Business · Companies · 5 hrs ago
Algoma Steel reports $13.9 million adjusted EBITDA loss for third quarter
Algoma Steel reported a $13.9 million adjusted EBITDA loss for the three months ended September 30, 2026.
The Canadian steelmaker is based in Sault Ste.
Marie, Ontario.
The loss was in line with the company’s previously announced expectations.
A turbine outage affected Lake Superior Power during the third quarter, but the power facility has returned to full power.
Algoma also said its second electric arc furnace unit has produced its first steel.
The unit is now being ramped up, according to the company.
Algoma Steel reported an adjusted EBITDA loss of C$13.9 million for the third quarter of 2026.
The company said the loss was in line with previously announced expectations.
The results covered the three months ended September 30, 2026.
Algoma said Lake Superior Power had returned to full power after a third-quarter turbine outage.
The company also said EAF Unit Two had produced its first steel and that ramp-up was underway.
- Who
- Algoma Steel Group Inc., a Canadian producer of steel plate and hot-rolled sheet products.
- What
- It reported a C$13.9 million adjusted EBITDA loss for the third quarter. The loss was in line with previously announced expectations.
- When
- The results were announced on October 28, 2026, for the three months ended September 30, 2026.
- Where
- Sault Ste. Marie, Ontario.
- Why
- Not stated
This story does not have two clearly opposing sides.
The reporting period for Algoma Steel’s third-quarter results concluded.
Algoma Steel announced its financial results for the quarter.
- Adjusted EBITDA loss
- C$13.9 million
- Reporting period
- Three months ended September 30, 2026
- Announcement date
- October 28, 2026
- Lake Superior Power
- Restored to full power following a third-quarter turbine outage
- EAF Unit Two
- Produced first steel; ramp-up underway