09:59 AM EDT, 05/02/2025 (MT Newswires) -- Algoma Central ( AGMJF ) on Friday reported a wider first-quarter net loss that came in below expectations.

The provider of marine transportation services said its net loss widened to $23.3 million, or $0.57 per share, from $17.3 million, or $0.44 per share, in the prior year period. The result beat consensus mean forecast of a loss of $0.64 per share, according to Capital IQ.

Revenue -- which dipped slightly to $107.2 million from $109.2 million -- missed the $119.4 million forecast.

"While reported revenues declined across several segments this quarter, much of the decrease was due to an increase in planned dry-dockings. Adjusting for these factors, core performance remained strong," said Christopher Lazarz, the chief financial officer.

Algoma will pay a quarterly dividend of $0.20 per share on June 2.

The company's shares were last seen up $0.10, to $15.50, on the Toronto Stock Exchange.

Price: 15.50, Change: +0.10, Percent Change: +0.65