Streetbeat News

ASTL

Algoma Steel Group Inc.

https://algoma.com

Industry

Steel

Algoma Steel Group Inc. produces and sells steel products primarily in North America. It provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications. Algoma Steel Group Inc. was founded in 1901 and is headquartered in Sault Ste. Marie, Canada.

Open

6.39

Mkt cap

684M

Volume

1.8M

High

6.74

P/E Ratio

-6.49

52-wk high

12.14

Low

6.39

Div yield

0.03

52-wk low

5.20

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Portfolio Pulse from Avi Kapoor

July 15, 2024 | 5:23 pm

Algoma Steel projects Q1 total steel shipments between 500,000 to 510,000 tons and reaffirms its outlook on its transformative Electric Arc Furnace project.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 10:03 pm

Algoma Steel Group (NASDAQ: ASTL) reported Q4 earnings per share of $0.07, significantly beating the analyst estimate of $(0.01). However, the company's sales of $460.44 million missed the $575.00 million estimate, representing a 19.92% shortfall and an 8.11% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 9:36 pm

Algoma Steel Group Inc. (NASDAQ:ASTL) provided fiscal Q4 2024 guidance, expecting steel shipments between 445,000-460,000 tons and Adjusted EBITDA of C$30M-C$40M. An unplanned outage at its blast furnace significantly impacted the quarter's performance. CEO Michael Garcia highlighted the recovery from the January incident, strong demand, rising market prices for Hot Rolled Coil, and the on-schedule Electric Arc Furnace project as key factors for future improvement.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 12:19 pm

Algoma Steel announced the completion of repair work and the restart of its blast furnace, resuming steel production on February 11, 2024, after a structure collapse at its coke-making plant on January 20, 2024. The company has strengthened its operations through these essential repairs.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:05 pm

Algoma Steel Group reported an incident at its north casthouse of the blast furnace complex, where slag contacted moisture, impacting twelve workers. Five were hospitalized but have since been released. The incident has not affected the blast furnace's recovery, and the return to full production is on track.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 2:31 pm

Algoma Steel Group reported a Q3 EPS of $(0.57) and sales of $452.16M.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 10:37 pm

Earnings reports for various companies are scheduled for February 6, 2024, with projections ranging from significant profits to losses across diverse sectors. Notable mentions include BP, UBS, Frontier Group Holdings, and Spotify Technology, among others, indicating a broad spectrum of financial health and market expectations.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 10:42 am

Algoma Steel Gr (NASDAQ:ASTL) is scheduled to release its quarterly earnings report on February 6, 2024, with analysts expecting an EPS of $-0.22. Despite a history of mixed earnings performance, with the last quarter missing estimates by $0.11 but still resulting in a 2.78% share price increase the following day, investors are hopeful for positive guidance. Over the last year, ASTL shares have decreased by 1.9%, indicating a bearish sentiment among long-term shareholders.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 7:02 pm

Algoma Steel Gr (NASDAQ:ASTL) is scheduled to release its quarterly earnings report on February 6, 2024, with analysts expecting an EPS of $-0.22. The company's past earnings performance shows mixed results, with the last quarter missing EPS estimates by $0.11 but resulting in a 2.78% share price increase the following day. Over the last 52 weeks, ASTL shares have decreased by 1.9%, indicating potential concern among long-term shareholders ahead of the earnings announcement.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 7:02 pm

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