ASTL Stock Recent News

SAULT STE. MARIE, Ontario, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2024 second quarter financial results after the market closes on Thursday, November 2, 2023. A webcast and conference call will be held on Friday, November 3, 2023 at 10:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session.

Algoma Steel (ASTL) extends its iron ore purchase contract with U.S. Steel for two years, supporting its transition to electric arc furnace steelmaking and commitment to sustainable steel production.

Algoma Steel is transitioning to Electric Arc Furnace steel production, which will reduce maintenance costs, increase steel production, and improve margins. The company is undergoing a modernization project for its plate mill, which will double production capacity and generate incremental revenue and EBITDA. Algoma Steel has a strong financial position, with enough cash on hand to fund the remaining costs of the EAF project without relying on debt or cash flow.

This analysis issues a Hold recommendation rating for Algoma Steel Group Inc., a Canadian manufacturer and seller of steel products primarily for the US automotive, transportation, and infrastructure sectors. Algoma Steel Group Inc. is well positioned. As a result of its transformative growth plan, it aims to expand steel production and reduce carbon emissions. Shares are not expensive at all compared to growth prospects, but could become even cheaper soon.

Algoma Steel's (ASTL) fiscal first-quarter earnings and revenues fall year over year. EAF project progresses.

Algoma Steel Group Inc. (NASDAQ:ASTL ) Q1 2024 Earnings Conference Call August 11, 2023 11:00 AM ET Company Participants Mike Moraca - Treasurer and IR Officer Michael Garcia - CEO Rajat Marwah - CFO Conference Call Participants Katja Jancic - BMO Capital Markets David Ocampo - Cormark Securities Ahmad Shaath - Beacon Securities Lucas Pipes - B. Riley Operator Hello, and welcome to today's conference call to discuss Algoma Steel's Fiscal First Quarter 2024 Financial Results.

SAULT STE. MARIE, Ontari, July 27, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2024 first quarter financial results after the market closes on Thursday, August 10, 2023. A webcast and conference call will be held on Friday, August 11, 2023 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session.

Algoma Steel Group Inc. (NASDAQ:ASTL ) Q4 2023 Earnings Conference Call June 22, 2023 11:00 AM ET Company Participants Mike Moraca - Treasurer and Investor Relations Officer Michael Garcia - Chief Executive Officer Rajat Marwah - Chief Financial Officer Conference Call Participants Katja Jancic - BMO Capital Markets Ian Gillies - Stifel David Ocampo - Cormark Securities Ahmad Shaath - Beacon Securities Operator Hello. And welcome to today's Conference Call to discuss Algoma Steel's Fiscal Fourth Quarter and Full Year 2023 Financial Results.

Analysts were expecting Algoma to report a loss last night -- but not a loss as big as this one. On the plus side, the company beat sales expectations.

Algoma Steel Group Inc. (ASTL) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of $0.01. This compares to earnings of $1.15 per share a year ago.