Algoma Central Corporation to Release Third Quarter 2026 Results on November 6, 2026; Announces Preliminary Results

ST. CATHARINES, Ontario--(BUSINESS WIRE)--Algoma Central Corporation (TSX: ALC) ("Algoma" or the "Company") today announced preliminary, unaudited financial results for the three and nine months ended September 30, 2026. Based on preliminary results, Algoma expects to report the following for the third quarter of 2026: Revenue of approximately $288 million, compared to $228 million in the third quarter of 2025; Net earnings of approximately $54 million, compared to $39 million in the third quarter of 2025; Basic and diluted earnings per share of approximately $1.34, compared to $0.97 in the third quarter of 2025; and EBITDA1 of approximately $95 million, compared to $90 million in the third quarter of 2025. Revenue is expected to increase approximately 26% compared with the third quarter of 2025, driven by higher freight rates, the expansion of the domestic dry-bulk fleet and increased grain and construction volumes, which more than offset lower iron and steel volumes and an increase in dry-docking days. Net earnings is expected to increase approximately 37% and include a one-time gain of $9 million from the sale of two older vessels. Excluding this gain, net earnings is expected to increase approximately 15%. For the nine months ended September 30, 2026, the Company expects to report revenue of approximately $674 million, compared to $547 million for the corresponding period in 2025, net earnings of approximately $92 million, compared to $49 million for the corresponding period in 2025, earnings per share of approximately $2.27, compared to $1.21 for the corresponding period in 2025, and EBITDA of approximately $182 million, compared to $160 million for the corresponding period in 2025. “Algoma is expecting strong third quarter results, reflecting continued strength in customer demand and freight rates in addition to the benefits of the strategic investments we made across our fleets. These investments enhance our scale, operating capabilities and growth potential. Our diversified business continues to achieve profitable growth despite the impact of global tariffs and geopolitical uncertainty due to the strength of our unique operating platform. Additionally, the recent increase in our regular dividend enables us to provide a meaningful return to shareholders while continuing to invest in the future of our business,” said Gregg Ruhl, President & CEO of Algoma Central Corporation. “We are confident in Algoma’s outlook and the long-term growth opportunities ahead.” Preliminary Results Disclaimer The expected revenue, net earnings, earnings per share and EBITDA results included in this press release are preliminary, unaudited, have not been reviewed by the Company's auditors, are subject to change and are based on information available to management as of the date of this press release and management's initial analysis of results of operations for the third quarter of 2026. Algoma's consolidated financial statements for the third quarter of 2026 are not yet available and remain subject to completion of the Company's normal quarter-end closing and review procedures. Accordingly, final results may differ materially from the preliminary results presented above. Investors are cautioned not to place undue reliance on the preliminary results. The preliminary results constitute forward-looking statements within the meaning of applicable securities laws and are subject to the risks and uncertainties described under "Forward-Looking Statements" below. Algoma expects to release its complete financial results for the three and nine months ended September 30, 2026, on November 6, 2026. The Company's third quarter earnings release and full financial results will be available on the Company's website and on SEDAR+ at www.sedarplus.ca. Use of Non-GAAP Measures This press release uses EBITDA, a non-GAAP financial measure as defined in National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure. EBITDA is not a standardized financial measure under generally accepted accounting principles, which are based on IFRS Accounting Standards as issued by the International Accounting Standards Board, and may not be comparable to similarly titled measures presented by other companies. EBITDA is not intended to represent cash flow from operations, and it should not be considered as an alternative to net earnings, cash flow from operations, or any other measure of performance prescribed by IFRS Accounting Standards. EBITDA is calculated as net earnings before depreciation and amortization, net interest expense, income tax expense, foreign exchange loss (gain), gain (loss) on sale of assets, and certain one-time items. Management considers EBITDA to be a meaningful measure to assess its operating performance in addition to other IFRS measures. It is included because management believes it can be useful in measuring the Company’s ability to service debt, fund capital expenditures, expand its business, and is a similar metric used by credit providers in the financial covenants of the Company’s senior secured long-term debt. The following table reconciles EBITDA to net earnings, the most directly comparable IFRS Accounting Standards measure. Amounts are preliminary and unaudited. Three Months Ended Nine Months Ended For the periods ended September 30 2026 2025 2026 2025 (in millions of dollars) Net earnings $ 54 $ 39 $ 92 $ 49 Depreciation and amortization 29 30 82 84 Net interest and tax expense 22 19 36 30 Foreign exchange loss (gain) - 2 3 (3) Loss (gain) on business acquisition - - (3) - Net loss (gain) on sale of assets (10)* - (28) - EBITDA $ 95 $ 90 $ 182 $ 160 * - includes $9m gain on sale on Algoma vessels and share of gains on sale of joint venture vessels Forward-Looking StatementsRead the full story here

Algoma Central Corporation to Release Third Quarter 2026 Results on November 6, 2026; Announces Preliminary Results

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