Algoma Steel Group (NASDAQ:ASTL) Posts Earnings Results, Misses Estimates By $0.28 EPS

Algoma Steel Group (NASDAQ:ASTL) announced its quarterly earnings results on Tuesday. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.28), Zacks reports. The firm had revenue of $216.44 million for the quarter, compared to the consensus estimate of $217.57 million. Algoma Steel Group had a negative return on equity of 64.28% and a negative net margin of 60.03%.

Algoma Steel Group Stock Performance

Shares of ASTL stock opened at $5.00 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.03 and a current ratio of 2.18. The company has a market capitalization of $525.90 million, a P/E ratio of -0.67 and a beta of 1.55. The company’s 50 day moving average price is $4.42 and its two-hundred day moving average price is $4.31. Algoma Steel Group has a 52 week low of $3.02 and a 52 week high of $7.24.

Institutional Trading of Algoma Steel Group

Several hedge funds have recently bought and sold shares of ASTL. Raymond James Financial Inc. acquired a new stake in Algoma Steel Group during the 2nd quarter worth approximately $32,000. Element Pointe Advisors LLC acquired a new stake in Algoma Steel Group during the 4th quarter worth approximately $41,000. Federation des caisses Desjardins du Quebec raised its holdings in Algoma Steel Group by 101.6% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 17,860 shares of the company’s stock worth $73,000 after buying an additional 9,000 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in Algoma Steel Group during the 3rd quarter worth approximately $79,000. Finally, FIL Ltd acquired a new stake in Algoma Steel Group during the 4th quarter worth approximately $85,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Algoma Steel Group

Here are the key news stories impacting Algoma Steel Group this week:

• Neutral Sentiment: Algoma said its first-quarter results were in line with previously disclosed guidance and emphasized that its transition to electric arc furnace steelmaking is now complete, with EAF Unit 1 fully operational and record plate sales of 116,000 net tons. Article: Algoma Steel Group Inc. Reports Financial Results for the Three Months Ended March 31, 2026
• Neutral Sentiment: Management said capacity-utilization charges are trending down sharply, and Algoma is targeting breakeven adjusted EBITDA by the fourth quarter, which could support a longer-term recovery if execution improves. Article: Algoma targets breakeven adjusted EBITDA by Q4 as capacity utilization charge trends from $90M to $0
• Neutral Sentiment: Investor attention remains focused on the Q1 earnings call and transcript, where the company’s turnaround plans and margin outlook were discussed in more detail. Article: Algoma Steel Group Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Analysts and market commentary noted the stock’s weak reaction to the results, reflecting concerns about the earnings miss and continued losses. Article: Algoma Steel Group Inc. (ASTL) Stock Falls on Q1 2026 Earnings
• Negative Sentiment: Algoma reported a wider first-quarter loss of C$159.4 million, a revenue decline, and an earnings miss versus expectations, reinforcing concerns about profitability and near-term cash generation. Article: Algoma Steel reports first-quarter loss of $159.4-million, compared with $24.5-million loss last year
• Negative Sentiment: Zacks Research downgraded Algoma Steel Group from “hold” to “strong sell,” which adds to the negative sentiment around the stock after the disappointing quarter. Article: Zacks Research downgrade

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ASTL. Weiss Ratings reissued a “sell (d-)” rating on shares of Algoma Steel Group in a research report on Friday, March 27th. Zacks Research cut shares of Algoma Steel Group from a “hold” rating to a “strong sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Algoma Steel Group has a consensus rating of “Reduce”.

About Algoma Steel Group

Algoma Steel Group Inc is a North American steel producer headquartered in Sault Ste. Marie, Ontario. The company operates a modern electric arc furnace (EAF) complex and an integrated rolling mill, enabling it to transform scrap and direct reduced iron into a wide range of steel products. Algoma Steel Group returned to public markets in 2021 with listings on both the Toronto Stock Exchange and the Nasdaq under the symbol ASTL.

Founded in 1901 as Algoma Steel Corporation, the company grew to become one of Canada’s leading steelmakers before undergoing restructuring in the early 2000s.