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Algoma Steel Group (TSE:ASTL)
TSX:ASTL
Holding TSE:ASTL?
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2025 (Q3)Consensus EPS Forecast
-C$0.45Last Year’s EPS
-C$0.78Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -11.01%
|Next Earnings Date:Feb 05, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a challenging quarter for Algoma Steel Group with a decline in revenue, shipments, and adjusted EBITDA due to soft market conditions. However, strong liquidity and progress on the EAF project, along with insurance proceeds, provide some positive aspects to the company's overall situation.Company Guidance
During the Algoma Steel Group Inc.'s Q2 2025 earnings call, the company provided several key metrics and updates. Algoma reported cash at quarter end of over CAD 450 million and total liquidity of CAD 800 million, demonstrating a strong balance sheet and funding capacity to complete their Electric Arc Furnace (EAF) project. The quarter's adjusted EBITDA was CAD 4 million, with a margin of 0.6%, supported by net insurance proceeds of about CAD 28 million. Steel shipments totaled 520,000 net tons, reflecting a 5.2% decrease compared to the prior year, and net sales realization averaged CAD 1,036 per ton, down 14.6%. The cumulative investment in the EAF project reached CAD 672 million, with committed contracts totaling approximately CAD 870 million, over 90% of which are fixed-price contracts. The company expects to commence commissioning activities for the EAF project by the end of the calendar year and aims for first steel production by the end of Q1 2025. Algoma also anticipates a working capital release of at least CAD 100 million by March 2025.Strong Liquidity and Balance Sheet
Algoma Steel Group reported cash at quarter end of over $450 million and total liquidity of $800 million, indicating a strong financial position to complete their EAF project.
EAF Project Progress
The electric arc furnace (EAF) project is on track with commissioning activities expected to begin in December. The project is expected to be completed within 5% of the most recent budget guidance.
Safety Achievements
The company reported improved lost time injury performance, highlighting a continued commitment to employee safety.
Insurance Proceeds
Algoma received $32 million in insurance proceeds related to a utility corridor incident, contributing to their cash flow.
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TSE:ASTL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:ASTL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | C$15.71 | C$16.65 | +5.98% |
| Aug 13, 2024 | C$12.35 | C$12.78 | +3.55% |
| Jun 20, 2024 | C$9.61 | C$9.48 | -1.33% |
| Feb 06, 2024 | C$11.03 | C$11.00 | -0.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Algoma Steel Group (TSE:ASTL) report earnings?
Algoma Steel Group (TSE:ASTL) is schdueled to report earning on Feb 05, 2025, TBA Not Confirmed.
What is Algoma Steel Group (TSE:ASTL) earnings time?
Algoma Steel Group (TSE:ASTL) earnings time is at Feb 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:ASTL EPS forecast?
TSE:ASTL EPS forecast for the fiscal quarter 2025 (Q3) is -C$0.45.
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