Algoma Steel Group Inc. reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was CAD 732.6 million compared to CAD 599.2 million a year ago. Net income was CAD 31.1 million compared to CAD 87.2 million a year ago. Basic earnings per share from continuing operations was CAD 0.29 compared to CAD 0.72 a year ago. Diluted earnings per share from continuing operations was CAD 0.24 compared to CAD 0.36 a year ago.
For the six months, sales was CAD 1,559.8 million compared to CAD 1,533.3 million a year ago. Net income was CAD 162 million compared to CAD 388.7 million a year ago. Basic earnings per share from continuing operations was CAD 1.49 compared to CAD 2.84 a year ago. Diluted earnings per share from continuing operations was CAD 1.09 compared to CAD 1.95 a year ago.