The latest announcement is out from Algoma Central ( (TSE:ALC) ).
Algoma Central Corporation reported strong financial results for fiscal 2024, driven by renewed market demand and expanded capacity. The company achieved higher net earnings and EBITDA compared to the previous year, despite a slight decrease in overall revenue. The Ocean Self-Unloaders and Product Tankers segments showed significant growth, with increased operating earnings and fleet utilization. Looking forward to 2025, Algoma remains optimistic yet cautious, anticipating stability and growth with the introduction of nine new vessels, while being mindful of potential market disruptions.
More about Algoma Central
Algoma Central Corporation is a key player in the marine transportation industry, focusing on domestic dry-bulk shipping, product tankers, and international ocean self-unloaders. The company is committed to expanding its fleet and enhancing service delivery to maintain its competitive edge in the market.
YTD Price Performance: 1.78%
Average Trading Volume: 7,385
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: C$602.8M
For an in-depth examination of ALC stock, go to TipRanks’ Stock Analysis page.