Algoma Steel Group Inc. reported earnings results for the fourth quarter and full year ended March 31, 2024. For the fourth quarter, the company reported sales was CAD 620.6 million compared to CAD 677.4 million a year ago. Net income was CAD 28 million compared to net loss of CAD 20.4 million a year ago. Basic earnings per share from continuing operations was CAD 0.26 compared to basic loss per share from continuing operations of CAD 0.19 a year ago. Diluted earnings per share from continuing operations was CAD 0.1 compared to diluted loss per share from continuing operations of CAD 0.19 a year ago.
For the full year, sales was CAD 2,795.8 million compared to CAD 2,778.5 million a year ago. Net income was CAD 105.2 million compared to CAD 298.5 million a year ago. Basic earnings per share from continuing operations was CAD 0.97 compared to CAD 2.43 a year ago. Diluted earnings per share from continuing operations was CAD 0.7 compared to CAD 1.71 a year ago.