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

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Postmedia has not reviewed the content. by Business Wire Algoma Central Corporation to Release Third Quarter 2026 Results on November 6, 2026; Announces Preliminary ResultsAuthor of the article:ST. CATHARINES, Ontario — 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.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountBased 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; andEBITDA1 of approximately $95 million, compared to $90 million in the third quarter of 2025.This advertisement has not loaded yet, but your article continues below.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%.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againFor 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 DisclaimerThe 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.This advertisement has not loaded yet, but your article continues 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.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 EndedNine Months EndedFor the periods ended September 302026202520262025(in millions of dollars)Net earnings$54$39$92$49Depreciation and amortization29308284Net interest and tax expense22193630Foreign exchange loss (gain)–23(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 vesselsForward-Looking StatementsThis press release contains forward-looking statements within the meaning of applicable Canadian securities laws and are made pursuant to the safe harbour provisions of any applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the Company’s expected financial results for the three and nine months ended September 30, 2026, including expected revenue, net earnings, earnings per share and EBITDA, the factors expected to affect those results, and the anticipated timing of the release of the Company’s complete third quarter financial and operating results. Forward-looking statements are often, but not always, identified by words such as “may”, “will”, “expects”, “anticipates”, “estimates”, “believes”, “intends”, “plans”, “forecasts” and similar expressions, or their negative or other variations.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. Actual results may differ materially from the anticipated results, performance or developments expressed or implied by such statements. The preliminary financial results in this press release are based on information available to management as of the date of this press release and remain subject to completion of the Company’s normal quarter-end closing, review and financial reporting procedures. Factors that could cause actual results to differ materially from the expectations expressed in the forward-looking statements include changes arising from completion of those procedures, the availability of additional or revised information, changes in accounting standards or policies or in their application, and the risks described in the Company’s public disclosure documents filed with Canadian securities regulators and available on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.About Algoma Central CorporationAlgoma Central Corporation is a global provider of marine transportation, owning and operating dry and liquid bulk carriers that serve critical industries throughout the Great Lakes – St. Lawrence Region and internationally. Focused on delivering exceptional customer service, utilizing fuel efficient vessels, and advancing innovative technologies, Algoma drives productivity while contributing to economic growth, strengthening communities, and supporting its people. Algoma truly is Your Marine Carrier of Choice™. Learn more at algonet.com.___________________________1 Non-GAAP financial measure. See “Use of Non-GAAP Measures”.View source version on businesswire.com: Algoma Central CorporationChristopher A.L. Lazarz, CPA, CA Algoma Central CorporationThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.