Algoma Steel Group Inc. announced its financial results for the second quarter ended June 30, 2025, reporting consolidated revenue of $589.7 million, a decrease from $650.5 million in the prior-year quarter. The company posted a net loss of $110.6 million, a significant decline from a net income of $6.1 million in the prior-year quarter. Adjusted EBITDA for the quarter was a loss of $32.4 million, compared to an Adjusted EBITDA of $37.7 million in the prior-year quarter.
The company incurred $64.1 million in tariff-related costs during the second quarter, bringing the total for the first half of 2025 to $74.6 million. Canadian net sales realizations were up to 40% lower than U.S. levels, contributing to an estimated $30 million revenue impact. Shipments for the quarter were 472,056 tons, down from 503,152 tons in the prior-year quarter.
In light of ongoing macroeconomic uncertainty, including increased volatility in steel markets and tariff uncertainty, the Board of Directors decided to suspend the regular quarterly dividend of US$0.05 per common share, totaling approximately US$5.2 million. This decision reflects a prudent approach to capital allocation and preserving liquidity.
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