BlueScope Steel raised its first-half fiscal 2027 earnings forecast, citing stronger U.S. steel margins and improved performance across its North American and Australian businesses.
The company’s October 26 release said underlying earnings before interest and tax are expected to approach A$1.1 billion, above its previous A$860 million to A$960 million range. These are company forecasts rather than reported results.
BlueScope expects its North American operations to produce earnings roughly two-thirds above the preceding half. Its North Star business is expected to approach a three-quarters increase, helped by stronger steel spreads and additional production.
The company raised its assumed U.S. mini-mill benchmark spread from about US$750 to US$810 per tonne, while noting that benchmark prices do not necessarily match realized mill prices.
Further detail on operating conditions is planned for the November 16 annual meeting.