Third quarter 2026 operating losses associated with the continued startup of the company's aluminum operations were $26 million, representing a 21 percent improvement compared to sequential second quarter results", said Millett. "Our Aluminum platform was EBITDA breakeven for the quarter. Aluminum flat rolled sheet product shipments were 55,000 metric tons in the third quarter 2026, and hot band production increased to 91,000 metric tons. Volumes were less than expected over a number of weeks, as yield losses increased at higher operating speeds due to quality impacts. The cause originated from the hot strip mill rolling coolant composition, which has been successfully changed, and no ongoing additional costs are expected from this matter. Since the change, the mill performance has been excellent in October. Looking ahead, we expect aluminum volumes and profitability to improve in the fourth quarter 2026 and throughout 2027, as startup costs subside, utilization and yields improve, and scrap content increases. Underlying demand for aluminum flat-rolled products across our targeted consumer sectors remains strong and is forecast to continue to grow."

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