Tag: BSL
BlueScope warns of tough times despite hefty dividend
Australian steelmaker BlueScope (ASX:BSL) has defied expectations by increasing its final and full-year dividends for the 2023-24 financial year, even as it forecasts a dramatic profit slump in the first half of 2024-25.
Read MoreUS steel rivals confirm BlueScope Steel’s concerns on North American pricing
Three quarterly results from U.S. steel rivals to BlueScope Steel (ASX:BSL) confirm the fears BSL has about pricing in the North American business in the six months to June.
Read MoreWill BlueScope muscle in on South32’s deal?
The steelmaker is the major customer for the high-quality coking coal from the mine, and under its current contract, it has a first right of refusal should the mine be put up for sale.
Read MoreBlueScope Steel reports 27% fall in first-half profit amidst market volatility
As expected, steelmaker BlueScope Steel (ASX:BSL) experienced a 27% decline in first-half profit due to volatile market conditions, sluggish economic growth, and high inflation and interest rates.
Read MoreBlueScope Steel anticipates strong December half-year results
BlueScope Steel (ASX:BSL) has announced that its December half-year results are expected to surpass the company's earlier forecasts, as outlined in its October 20 guidance.
Read MoreBlueScope Steel downgrades 1st half earnings amidst softening demand
BlueScope Steel (ASX:BSL) has, at long last, downgraded first-half earnings, weeks after US-based steel rivals revealed cuts to their forecasts and actuals due to weakening margins and spreads as demand softens.
Read MoreBlueScope’s reserved response to $57.5 million fine
BlueScope's concise statement regarding its $57.5 million Federal Court fine raises eyebrows.
Read MoreBlueScope’s North Star Eyes Ohio’s Bucks
BlueScope Steel has surprised with an upgrade to June half earnings thanks to a much stronger performance from its North Star steel mill in the US state of Ohio.
Read MoreBlueScope Shares Hit Hard on Earnings Slide
BlueScope Steel shares ended down 10% on Monday after orders for steel slid in most of its major regions in the six months to December, taking prices and earnings with them.
Read MoreMarket Shrugs Off the BlueScope Steel Blues
BlueScope Steel is facing a slide of more than $A1 billion in first half profit, according to a trading update issued ahead of yesterday’s annual general meeting.
Read MoreNucor Profit Warning Bodes Ill for BlueScope
A warning for BlueScope Steel this week after Nucor, one of its biggest US rivals, warned that its 3Q earnings would fall from a year earlier due to declining volumes and prices at its steel mills.
Read MoreRecord Result for BlueScope but Future Murky
While BlueScope Steel has met guidance with a record result for the year to June 30 of $2.81 billion, investors will not like the near 70% slide in the company’s December half profit forecast.
Read MoreWednesday Whispers: BSL, BLD, APE
A fair bit of news around the ASX on Wednesday, and here’s all the latest from steelmaking giant BlueScope, Kerry Stokes-controlled Boral and local automative retailer Eagers.
Read MoreBlueScope Dips Another Toe in US Steel Market
BlueScope has made its second major US acquisition in six months to help bolster its growing presence in the market, especially in one of its specialities, coated steel products.
Read MoreBSL – UBS rates the stock as Buy
The Buy rating and $25.75 target are unchanged.
Read MoreGlobal Steel Boom Helps BlueScope to Record
2021’s global steel boom powered Australian/US producer and exporter, BlueScope Steel to its best ever six months and the company says it is expecting this trend to continue into 2022.
Read MoreBSL – Citi rates the stock as Buy
Buy retained. But Citi has lowered its target PE multiple to 17x from 20x, which leads to a target price decrease to $25.50 from $27.50.
Read MoreCorporate Chit-Chat: BSL; SHL
Plenty of news from the AGMs of steelmaker BlueScope and pathology giant Sonic Healthcare, with guidance and trading updates provided at each. Here are the salient points.
Read MoreImproved Guidance for BlueScope on Steel Surge
The steel business continues to buoy the earnings of BlueScope, with higher demand on both sides of the Pacific – Australia and the US – leading to an increase in the company’s December half forecast.
Read MoreBSL – Credit Suisse rates the stock as Neutral
Target rises to $26.00 from $25.20, Neutral retained.
Read MoreNothing Blue and Plenty of Scope for More
BlueScope Steel saw a surge in earnings in the year to June which enabled the country’s biggest steelmaker to more than triple its final dividend, announce a special payout, and reveal a $500m buyback.
Read MoreBlue Ribbon Result for BlueScope Steel
As expected, steelmaker BlueScope has smashed its second half and June 30 full year earnings guidance thanks to the global boom in demand for steel – especially in the US.
Read MoreBlueScope Flourishing on Steel Demand
18 months after warning high iron ore and coking coal prices would damage earnings, BlueScope is more profitable than it ever has been despite ore prices surging even further.
Read MoreBSL – Credit Suisse rates the stock as Outperform
Outperform retained. Target rises to $22.50 from $20.
Read MoreBSL – Macquarie rates the stock as Outperform
Outperform retained. Target is raised to $23.50 from $21.65.
Read MoreBSL – UBS rates the stock as Neutral
BlueScope Steel pre-reported group operating income of $530m. UBS retains a Neutral rating and reduces the target to $18.04 from $18.25.
Read MoreBlueScope Shows Steely Resolve
Surging Australian demand, aided by solid sales into the US residential construction sector, saw BlueScope’s highest Australian steel dispatches in a decade and a 78% jump in profit.
Read MoreBlueScope On Top Of The Housing Boom
Sales from the mills of BlueScope Steel are going gangbusters, auguring well for the outlook over FY21. Are there any clouds on the horizon?
Read MoreOur vacations might not be the only thing ‘staying local’ for a while
Australian investors are known to be very parochial, and have historically reflected this attitude with a home bias – possibly because of the lure of familiarity with companies, franking credits and the currency hedge (most spend in Australian dollars).
Read MoreBluescope Strengthens Profit Forecast Again
Shares in steelmaker, BlueScope leapt by more than 7% yesterday after a second earnings upgrade in a month. The update, released ahead of the company’s annual meeting, took investors by surprise coming so soon after the very positive lift in projected earnings in a month.
Read MoreNews Shorts: BlueScope Upgrades Earnings, Link Rejects Takeover Bid
Steelmaker BlueScope Steel set the market on fire on Friday with a sharp upgrade to first-half earnings. Meanwhile, financial services records group, Link has rejected the $2.8 billion takeover private equity bid, claiming it materially undervalued the company.
Read MoreQBE CEO Exits, Ex-BlueScope Exec Pleads Guilty To Obstructing Cartel Probe
QBE Group chief executive Pat Regan will leave the insurer after an external investigation into workplace communications that the board said did not meet the group’s code of ethics and conduct. Meanwhile, former senior BlueScope Steel executive Jason Ellis has pleaded guilty in Sydney’s court to one charge of obstructing a cartel investigation.
Read MoreBSL – UBS rates the stock as Neutral
FY20 ended on a strong note for BlueScope Steel, observes UBS, but is not enough to alleviate the broker’s concerns regarding steel prices which are at a four-year low.
Read MoreBluescope Holds Payout As Profit Plummets 91%
Australia’s largest steelmaker, BlueScope, has matched a warning of lower earnings for the year to June with news yesterday that statutory earnings fell a massive 91%. The fall came amid weak profits for steel products in Australia, Asia, the US, and New Zealand.
Read MoreNZ Impairments Add To Virus Hit At BlueScope Steel
BlueScope Steel is looking at a double hit to 2019-20 profit from the COVID-19 pandemic and a write-down of the value of its New Zealand Steel subsidiary.
Read MoreBSL – UBS rates the stock as Neutral
UBS updates modeling following a trough in earnings that appears shallower than previously expected. The broker now assesses the risk/reward is balanced and retains a Neutral rating.
Read MoreBSL – Credit Suisse rates the stock as Outperform
At current levels the market is pricing in depressed FY20/21 earnings in perpetuity, Credit Suisse assesses, which is unrealistic.
Read MoreBSL – Credit Suisse rates the stock as Outperform
At current levels the market is pricing in depressed FY20/21 earnings in perpetuity, Credit Suisse assesses, which is unrealistic.
Read MoreVirus Havoc: Myer Slumps, Nine & Bluescope Drop Guidance, Afterpay Under Siege
Shares in troubled department store Myer plunged by more the 44% yesterday for no apparent reason.
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