Company Reports

BlueScope lifted first-half fiscal 2027 underlying group EBIT guidance by approximately 20% on higher steel spreads at North Star, higher-than-expected sales volumes and spreads in Australia, and improved volumes and prices in its North American building and coated products business.

Over the past decade, BlueScope Steel has transitioned away from the highly contested global markets, where returns are generally poor. The company’s strategy is to run a cost-competitive steel business that underpins the profitability of its premium branded products. Serving the residential, nonresidential, and construction markets, key branded products include Colorbond, Truecore, Zincalume, and Lysaght.

Over the past decade, BlueScope Steel has transitioned away from the highly contested global markets, where returns are generally poor. The company’s strategy is to run a cost-competitive steel business that underpins the profitability of its premium branded products. Serving the residential, nonresidential, and construction markets, key branded products include Colorbond, Truecore, Zincalume, and Lysaght.

BlueScope's fiscal 2026 underlying EBIT of AUD 1.27 billion was 73% higher than the prior year. Stronger spreads at its North American North Star mill more than offset weaker spreads in Australian operations, with competition from cheap Asian steel capping prices. Shares slipped 2%.

It has been more than a month since Bluescope rejected a "best and final" takeover offer from Steel Dynamics and Seven Group Holdings. The bid, via a scheme of arrangement, was equivalent to AUD 34 per share. Bluescope indicated it was open to negotiation.

Over the past decade, BlueScope Steel has transitioned away from the highly contested global markets, where returns are generally poor. The company’s strategy is to run a cost-competitive steel business that underpins the profitability of its premium branded products. Serving the residential, nonresidential, and construction markets, key branded products include Colorbond, Truecore, Zincalume, and Lysaght.

Bluescope has responded to the latest offer from narrow-moat SGH and Steel Dynamics. The offer received on Feb. 18, 2026, was for AUD 34 per share, including dividends, before the offer closes. It says it is willing to consider the proposal, subject to conditions including a higher offer price.

Over the past decade, BlueScope Steel has transitioned away from the highly contested global markets, where returns are generally poor. The company’s strategy is to run a cost-competitive steel business that underpins the profitability of its premium branded products. Serving the residential, nonresidential, and construction markets, key branded products include Colorbond, Truecore, Zincalume, and Lysaght.

Bluescope has received an improved takeover offer from the consortium comprising Steel Dynamics and Seven Group Holdings. The bid, via a scheme of arrangement, is equivalent to AUD 33 per share, including AUD 0.65 in upcoming share distributions. It is expressed as the "best and final" proposal.

Over the past decade, BlueScope Steel has transitioned away from the highly contested global markets, where returns are generally poor. The company’s strategy is to run a cost-competitive steel business that underpins the profitability of its premium branded products. Serving the residential, nonresidential, and construction markets, key branded products include Colorbond, Truecore, Zincalume, and Lysaght.

BlueScope's first-half fiscal 2026 underlying EBIT of AUD 558 million more than doubled from last year, mostly due to higher spreads in its US minimill, Northstar. Shares are trading close to the recently offered, and vehemently rejected, takeover price of AUD 30 per share.

Over the past decade, BlueScope Steel has transitioned away from the highly contested global markets, where returns are generally poor. The company’s strategy is to run a cost-competitive steel business that underpins the profitability of its premium branded products. Serving the residential, nonresidential, and construction markets, key branded products include Colorbond, Truecore, Zincalume, and Lysaght.

The Bluescope board has unanimously rejected a takeover proposal of AUD 30 per share from an Australian and US consortium comprising Seven Group Holdings and Steel Dynamics.

Bluescope has received a nonbinding indicative proposal of AUD 30 per share to acquire the company. The proposal, via scheme of arrangement, is from an Australian and US consortium comprising Seven Group Holdings and Steel Dynamics. Shares are trading in line with the offer price.

Over the past decade, BlueScope Steel has transitioned away from the highly contested global markets, where returns are generally poor. The company’s strategy is to run a cost-competitive steel business that underpins the profitability of its premium branded products. Serving the residential, nonresidential, and construction markets, key branded products include Colorbond, Truecore, Zincalume, and Lysaght.

Bluescope provided a trading update at its annual general meeting. It now expects first-half fiscal 2026 underlying EBIT to be at the bottom of the AUD 550 million to AUD 620 million guided range. Shares closed broadly flat on the day.

Bluescope's CEO, Mark Vassella, is retiring after eight years in the job, with replacement Tania Archibald commencing on Feb. 1, 2026. Archibald is currently CEO of Bluescope's Australian steel business and has been with the company for 30 years.

Over the past decade, BlueScope Steel has transitioned away from the highly contested global markets, where returns are generally poor. The company’s strategy is to run a cost-competitive steel business that underpins the profitability of its premium branded products. Serving the residential, nonresidential, and construction markets, key branded products include Colorbond, Truecore, Zincalume, and Lysaght.

The US administration's steel tariff is intended to protect the domestic steel industry, with about one-fourth of consumption usually imported. US domestic steel spot prices are about 5% higher than when tariffs were first announced in February 2025.

Bluescope's fiscal 2025 underlying EBIT of AUD 738 million was 45% lower than the prior year. The result was due to lower steel spreads and global uncertainty weighing on steel demand in the company's US, Australia, New Zealand, and Asia-Pacific locations.