BlueScope Steel Slashes Fiscal H1 Underlying EBIT Guidance on 'Challenging' Operating Conditions

MT Newswires Live

2024-10-29

BlueScope Steel (ASX:BSL) slashed its underlying earnings before interest and tax (EBIT) guidance for the first half of fiscal 2025 to AU$270 million to AU$310 million from the previous forecast of AU$350 million to AU$420 million, according to a Tuesday filing with the Australian bourse.

Chief Executive Mark Vassella said the move was made amid "challenging" operating conditions facing BlueScope and the broader global steel industry.

Factors include lower steel prices and softer demand amid record steel exports from China, Vassella added.

The company's shares were down 1% in recent Tuesday trade.

Price (AUD): $20.97, Change: $-0.22, Percent Change: -1.04%

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