Algoma Steel provided guidance for Q4 2024, focusing on solid operational execution and future growth

From GlobeNewswire: 2025-01-02 17:30:00

Algoma Steel Group Inc. provided guidance for the quarter ended December 31, 2024, with total steel shipments expected to be in the range of 545,000 to 550,000 tons and Adjusted EBITDA in the range of ($55) million to ($65) million. Despite market challenges, CEO Michael Garcia highlighted solid operational execution, particularly in the plate business. The Electric Arc Furnace project is progressing well, with first steel production expected by the end of the first quarter of 2025. Algoma is focused on becoming one of North America’s leading low-carbon steel producers, positioning itself for a successful 2025.

Algoma Steel Group Inc., based in Sault Ste. Marie, Ontario, is a key supplier of steel products in North America and the only producer of discrete plate products in Canada. The company is undergoing a transformation to become a leading producer of green steel, with investments in modernization and electric arc technology. Algoma aims to offer North America a secure steel supply and a sustainable future while prioritizing environmental stewardship. Forward-looking statements indicate Algoma’s commitment to growth and operational performance, with a focus on delivering long-term value to customers and stakeholders.



Read more at GlobeNewswire: Algoma Steel Provides Guidance for the Quarter Ended