Industry News

Algoma Steel Group down $20.4M in Q4 amid lower steel prices, higher costs

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Update time : 2023-06-26 16:16:24

SAULT STE. MARIE, Ont. -- Algoma Steel Group Inc. says its net loss for the fourth quarter was $20.4 million, compared with earnings of $242.9 million a year earlier.

Net loss per diluted share was 19 cents, down from earnings of $1.45 the same quarter last year.

The Sault Ste. Marie, Ont.-based steel producer says revenue for the quarter ended March 31 was $677.4 million, down from $941.8 million.

Earnings for the full fiscal year were $298.5 million, down from $857.7 million the previous year.

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