Algoma Steel Group Inc. Provides Guidance for the Third Quarter 2026

Algoma Steel reported Q3 2026 guidance with expected steel shipments of approximately 145,000 tons and Adjusted EBITDA between negative $10-20 million. The company successfully restored full power at Lake Superior Power plant after a turbine replacement and expects first heat from EAF Unit Two in the coming days. Despite near-term headwinds from the power outage and lower shipment volumes, management expressed optimism about improved steel prices and the company's transformation progress.