Tag: BSL

Bluescope Steel confirmed yesterday its lowered guidance for the December half and for 2019-20 while also warning that its China operations are likely to be “heavily impacted” by disruptions stemming from the coronavirus in February and March.

Shares in BlueScope Steel rose yesterday when the company told the AGM that it was still expecting a sharp fall in first-half earnings.

BlueScope Steel has changed tack and will now take on more debt to help finance its US expansion – that’s a move that will see the company no longer target cash retention and instead see a gearing up of its balance sheet.

A record interim profit and higher dividend and a continuing buyback for shareholders in steelmaker BlueScope.

BlueScope Steel is looking into whether it should boost its US steelmaking capacity by up to just under million tonnes to take advantage of President Trump’s tariffs on imports of steel into America.

BlueScope Steel shares had an up, down, flat sort of day yesterday after the company lifted its guidance for underlying earnings before interest and tax (EBIT) for the second (June 30) half helped by stronger margins at its plant in the United States.

BlueScope Steel shares rose nicely yesterday after the company revealed a 23% rise in first-half net profit to $441.2 million, helped by the restatement of deferred tax liabilities after January’s cut in US corporate tax rates (in its North Star steel business in the US).

BlueScope Steel says it is still on track to report sharply lower underlying result for the six months to December.

BlueScope Steel took a pounding yesterday on the news of a bit hit to 2017-18 earnings from higher energy costs, a slightly weaker result and dividend than forecast for the year to June, and news of a cartel investment by the competition regulator, the ACCC.

BlueScope Steel CEO, Paul O’Malley is going out in style after announcing an expected surge in earnings for the year to June 30. O’Malley says he will retire at December 31 and will be replaced internally by the company’s Australia and NZ CEO, Mark Vassella. The company has issued several upgrades during the year and Monday morning revealed a $715.9 million net profit after tax for the year to June 30, up 102% on 2015-16.

BlueScope Steel’s (BSL) fabulous run continues. Hard on the heels of several earnings upgrades in the past few months, the company yesterday revealed what those higher forecasts were all about – a near 80% surge in first half profit, a forecast 50% improvement in second half profit a higher dividend and an on market share buyback.

BlueScope (BSL) has again upgraded its underlying profit forecast – this time by almost 18% for the December 31 first half as buoyant conditions in the US and improvements in the Australian steel business continue to flow through.

BlueScope Steel (BSL) shares surged more than 12% at one stage yesterday, not because of a bullish trading update at the annual meeting, but because of the company’s exposure to the North American market and the perceived benefits of a Trump presidency.

BlueScope Steel’s strong earnings surge in 2015-16 had long been forecast by the company, so it was no surprise when the steelmaker revealed its final figures for the year to June yesterday.

BlueScope (BSL) shares surged yesterday after the steelmaker revealed a 4th profit upgrade in 9 months – proving that the anti-dumping curbs on steel imports from China in particular can be a profit booster, along with staff cuts and state aid from the NSW government, and surprisingly, rising returns in the US and global steel markets.

Bluescope Steel’s (BSL) shares surged yesterday after the steelmaker sprang a surprise profit upgrade on the market.

While Arrium (ARI) was being bailed out, the shares of its steelmaker rival BlueScope Steel (BSL) rose after it reported a better than expected half year profit.

Shares in steelmaker, BlueScope (BSL) gave yesterday’s series of announcements a big tick yesterday by jumping more than 10%.

Steelmaker, BlueScope Steel (BSL) is trying it on, threatening to close its Port Kembla steelworks and cut 5,000 jobs if unions don’t agree to $200 million in cost savings and the loss of around 500 jobs.

There has been rising talk that BlueScope (BSL) wants to either abandon steel making in Australia (at its huge Port Kembla plant in NSW), but this morning’s 2014-15 result raises questions about all that chat.

While BlueScope Steel (BSL) reported a strong, 62% jump in underlying half-year profit to $79.6 million and the return to paying dividends for the six months to December, 2014, the market was distinctly unimpressed yesterday.

BlueScope Steel (BSL) has reported a strong, 62% jump in underlying half-year profit to $79.6 million as the lower Australian dollar and stronger steel margins boosted earnings.

Shares in the country’s leading steelmaker BlueScope Steel (BSL) copped a hammering yesterday after the company revealed weaker than expected results for the year to June 30 and a very subdued outlook for the current December half year.

Steel maker BlueScope (BSL) has forecast little change in second half earnings after it reported a modest profit for the six months to December yesterday.

BlueScope Steel, which will get hundreds of millions of dollars money under the carbon tax in compensation and free permits for the steel industry, has surprised investors by launching an ”accelerated "fund raising to cut debt.

The high dollar and indifferent demand in the US and other offshore markets continues to make trading tough for steel maker BlueScope Steel.

BlueScope Steel Ltd expects to recover to a small full-year profit after reporting a small first-half loss.