Algoma Steel Group Inc. $ASTL reported second-quarter 2026 revenue of $188.3 million, well below the $285.2 million estimate and down 56.6% from a year earlier. The company also posted a larger operating loss, with operating profit at -$94.5 million, while gross profit came in at -$74.1 million.
Bottom-line results remained under pressure. Net income attributable to common shareholders was -$67.6 million, or -$0.62 per diluted share, compared with the prior-year period. The result was better than the -$0.85 per-share estimate, but still reflected a difficult quarter for the steel producer.
Cash generation also weakened, with cash used in operating activities at -$55.9 million. Capital spending fell to $20.4 million, and the balance sheet showed cash and cash equivalents of $44.1 million. Total liabilities stood at $1.24 billion, slightly higher than a year ago.
- Revenue: $188.3 million
- Diluted EPS: -$0.62
- Operating cash flow: -$55.9 million
- Cash and cash equivalents: $44.1 million
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
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Algoma Steel Group Inc. Hedge Fund Activity
We have seen 46 institutional investors add shares of Algoma Steel Group Inc. stock to their portfolio, and 54 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. removed 4,386,450 shares (-51.6%) from their portfolio in Q1 2026, for an estimated $18,116,038
- GOLDENTREE ASSET MANAGEMENT LP removed 2,493,548 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $10,298,353
- FMR LLC removed 2,208,646 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $9,121,707
- MAPLE ROCK CAPITAL PARTNERS INC. added 1,500,000 shares (+10.4%) to their portfolio in Q1 2026, for an estimated $6,195,000
- SOURCEROCK GROUP LLC added 1,306,403 shares (+inf%) to their portfolio in Q1 2026, for an estimated $5,395,444
- VERITION FUND MANAGEMENT LLC removed 1,221,999 shares (-97.9%) from their portfolio in Q1 2026, for an estimated $5,046,855
- TD ASSET MANAGEMENT INC removed 845,516 shares (-50.1%) from their portfolio in Q1 2026, for an estimated $3,491,981
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
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Algoma Steel Group (ASTL) Releases Q2 2026 Earnings: Revenue Falls Short and Loss Widens
Algoma Steel Group Inc. $ASTL reported second-quarter 2026 revenue of $188.3 million, well below the $285.2 million estimate and down 56.6% from a year earlier. The company also posted a larger operating loss, with operating profit at -$94.5 million, while gross profit came in at -$74.1 million.
Bottom-line results remained under pressure. Net income attributable to common shareholders was -$67.6 million, or -$0.62 per diluted share, compared with the prior-year period. The result was better than the -$0.85 per-share estimate, but still reflected a difficult quarter for the steel producer.
Cash generation also weakened, with cash used in operating activities at -$55.9 million. Capital spending fell to $20.4 million, and the balance sheet showed cash and cash equivalents of $44.1 million. Total liabilities stood at $1.24 billion, slightly higher than a year ago.
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
Algoma Steel Group Inc. Hedge Fund Activity
We have seen 46 institutional investors add shares of Algoma Steel Group Inc. stock to their portfolio, and 54 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Read full article here »