Algoma Central at Record High as It Releases Preliminary Third-Quarter Results

11:30 AM EDT, 10/20/2026 (MT Newswires) -- Algoma Central (ALC.TO) trading at a record high on last look, on Tuesday said that preliminary third-quarter net earnings are expected to jump to CA$1.34 per share, from CA$0.97 per share, in the prior-year period. Net earnings include a one-time gain from the sale of two older vessels, a statement said. Revenue is expected to increase 26% over the same period to CA$288 million, the marine-shipping company said. The increase was due to higher freight rates, larger domestic dry-bulk fleet and higher grain and construction volumes. "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," said Algoma Chief Executive Gregg Ruhl. "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," Ruhl added. Algoma will report its third-quarter results on Nov. 6. The company's shares were last seen up CA$1.69, or 5.7%, to CA$31.29 on the Toronto Stock Exchange. Price: 31.29, Change: +1.69, Percent Change: +5.71