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Algoma Steel Group Inc

Algoma Steel Group Inc (ASTL)

8.855
0.175
(2.02%)
Closed July 23 4:00PM
8.855
0.00
(0.00%)
After Hours: 3:50PM

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Key stats and details

Current Price
8.855
Bid
8.85
Ask
8.86
Volume
268,982
8.49 Day's Range 8.87
6.345 52 Week Range 10.25
Market Cap
Previous Close
8.68
Open
8.49
Last Trade
15
@
8.8881
Last Trade Time
Financial Volume
$ 2,324,202
VWAP
8.6407
Average Volume (3m)
410,199
Shares Outstanding
104,103,072
Dividend Yield
2.82%
PE Ratio
12.05
Earnings Per Share (EPS)
1.01
Revenue
2.8B
Net Profit
105.2M

About Algoma Steel Group Inc

Algoma Steel Group Inc is a Canadian company that produces clean and consistent light gauge steel in North America, offering a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production. Geographically it serves Canada, the United Sta... Algoma Steel Group Inc is a Canadian company that produces clean and consistent light gauge steel in North America, offering a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production. Geographically it serves Canada, the United States and the rest of the world, whilst driving key revenue from domestic sales. Substantial revenue is generated from the sale of Steel sheets and strips. Show more

Sector
Primary Metal Products, Nec
Industry
Primary Metal Products, Nec
Headquarters
, Can
Founded
1970
Algoma Steel Group Inc is listed in the Primary Metal Products sector of the NASDAQ with ticker ASTL. The last closing price for Algoma Steel was $8.68. Over the last year, Algoma Steel shares have traded in a share price range of $ 6.345 to $ 10.25.

Algoma Steel currently has 104,103,072 shares outstanding. The market capitalization of Algoma Steel is $903.61 million. Algoma Steel has a price to earnings ratio (PE ratio) of 12.05.

ASTL Latest News

Algoma Steel Group to Participate at the Stifel Canada’s 3rd Annual Summer Solstice Conference

SAULT STE. MARIE, Ontario, June 24, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled...

Honeywell Acquires CAES Systems for $1.9 Billion, Sarepta Therapeutics Surges 34%, Gilead Continues Gains

Honeywell (NASDAQ:HON) – Honeywell announced the acquisition of CAES Systems for $1.9 billion, focusing on expanding its aerospace and defense technology operations. Under the leadership of...

Algoma Steel Group Reports Fiscal Fourth Quarter and Full Year 2024 Financial Results

Fourth Quarter Results In-Line with Previously Announced Expectations Plate and Strip Operations Running at Planned Production Levels Reaffirmed Outlook on Transformative Electric Arc Furnace...

U.S. Index Futures Surge; Oil Prices Increase

U.S. index futures rose in pre-market trading on Thursday following the Juneteenth holiday. As of 6:21 AM, Dow Jones futures (DOWI:DJI) were up 42 points, or 0.11%. S&P 500 futures advanced...

Algoma Steel Appoints Erin Oliver as Vice President - Health and Safety

SAULT STE. MARIE, June 11, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a leading Canadian producer of hot and cold rolled steel sheet and plate...

Algoma Steel to Announce Fiscal 2024 Fourth Quarter and Full Year Results June 20, 2024

SAULT STE. MARIE, Ontario, June 06, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled...

Algoma Steel Inc. Announces Pricing of US$350 Million 9.125% Senior Secured Second Lien Notes due 2029

SAULT STE. MARIE, Ontario, March 26, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a fully integrated producer of hot and cold rolled steel products...

CORRECTION: Dividend Payment Date Adjustment Due to Canadian Statutory Holiday

SAULT STE. MARIE, Ontario, March 25, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
11.09514.11082474237.768.977.769414088.51749721CS
41.84526.31954350937.018.976.7155297377.75945459CS
120.95512.08860759497.98.976.674101997.64912363CS
260.3353.931924882638.528.976.675107157.96031884CS
521.69523.67318435757.1610.256.3455469887.92536636CS
156-3.145-26.20833333331213.655.649168138.42034596CS
260-3.145-26.20833333331213.655.649168138.42034596CS

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ASTL Discussion

View Posts
HokieHead HokieHead 2 years ago
Crushed earnings, $400M share buyback, almost 50% of market cap. Divy payer too.

$3.8B sales TTM sales and a $800M market cap. $25+ stock for starters.

Full Year Fiscal 2022 Financial Results

Full year revenue totaled $3,806.0 million, up 112.0% from $1,794.9 million the prior-year. As compared with 2021, steel revenue was $3,548.8 million, up 119.7% from $1,615.1 million, and revenue per ton of steel sold was $1,657, up 94.0% from $854.

Income from operations was $1,411.0 million, compared to $84.8 million the prior-year. The year over year increase was primarily due to an increase in the selling price of steel, partially offset by an increase in the purchase price of inputs, including iron ore, scrap and alloys, as well as increases in employee profit sharing.

Net income for the year was $857.7 million, compared to a net loss of $76.1 million in 2021. The improvement was driven primarily by the factors described above under income from operations offset by listing expenses and transaction costs associated with the merger with Legato Merger Corp. and higher income taxes.

Adjusted EBITDA for the full year was $1,503.2 million, compared with $199.2 million for the prior-year. This resulted in an Adjusted EBITDA margin of 39.5%. Average realized price of steel net of freight and non-steel revenue was $1,545 per ton, up 101.2% from $768 per ton in the prior-year. Cost per ton of steel products sold was $857, up 32.7% from $646 in the prior-year. Shipments for the year increased by 9.3% to 2,297,159 tons, compared to 2,102,086 tons in the prior-year. See "Non-IFRS Measures" below for an explanation of Adjusted EBITDA and a reconciliation of Adjusted EBITDA to net income.

Normal Course Issuer Bid

On March 3, 2022 the Company announced the commencement of a normal course issuer bid ("NCIB") after receiving approval from the Toronto Stock Exchange ("TSX"), authorizing the Company to acquire up to a maximum of 7,397,889 shares, or 5% of its issued and outstanding shares as of February 18, 2022, subject to a maximum of 16,586 shares per day on the TSX and 300,000 on NASDAQ. The NCIB expires on March 2, 2023 if not fully exercised. No shares were repurchased under the NCIB during the fiscal year ended March 31, 2022. Subsequent to March 31, 2022, as at May 31 2022, the company has acquired and cancelled 1,089,691 shares under the NCIB. The Company will be suspending share repurchases under the NCIB until after the expiration of the proposed substantial issuer bid.

Substantial Issuer Bid

The Company announced today that it intends to commence a US$400 million substantial issuer bid ("SIB"), as part of its overall capital allocation strategy, under which the Company plans to offer to purchase for cancellation from shareholders up to US$400 million of the Company's outstanding common shares by way of a "modified Dutch auction" which will permit shareholders to choose, within the pricing range determined by the Company, the number of shares and the price at which they wish to tender such shares, with the purchase price for all tendering shareholders being the lowest purchase price per share that will enable the Company to purchase the maximum number of shares properly tendered to the offer, up to US$400 million. The Company believes that the SIB represents an equitable and efficient means of providing value to its shareholders. The pricing range of the SIB and further details will be announced separately, prior to the commencement of the SIB, which is anticipated to occur prior to the end of June.

Electric Arc Furnace

In November 2021, the Board of Directors authorized the Company to construct two new state-of-the-art electric arc furnaces ("EAF") to replace its existing blast furnace and basic oxygen steelmaking operations. The $700 million project is expected to take two years to complete and is advancing as expected. Following the transformation to EAF steelmaking, Algoma's facility is anticipated to have an annual raw steel production capacity of approximately 3.7 million tons, which would match its downstream finishing capacity, and would be expected to reduce the Company's annual carbon emissions by approximately 70%.

Quarterly Dividend

The Company's board of directors has declared a regular quarterly dividend in the amount of US$0.05 on each common share outstanding, payable on July 15, 2022 to holders of record of common shares of the Corporation as of the close of business on June 27, 2022. This dividend is designated as an "eligible dividend" for Canadian income tax purposes.
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