Algoma Steel Group (ASTL) Q2 FY26 earnings call

Algoma Steel continued its EAF transition in Q2 FY26, achieving positive adjusted EBITDA despite a challenging market and lower volumes. The company set a new record for plate sales, benefiting from a Canada-centric, plate-first strategy and improved product mix. While facing tariff headwinds and temporary volume reductions for EAF Unit 2 commissioning, management expects underlying EBITDA to improve sequentially as transition costs decline and liquidity remains robust.