Sims U.S. Business Shines, But Asia Headwinds Remain -- Market Talk

Dow Jones09-20

2324 GMT - Sims's upbeat update on its North America Metal business shows a turnaround in earnings well ahead of expectations, says Jefferies analyst Simon Thackray. Jefferies upgrades its FY 2025 Ebit forecast for that division to A$105 million from A$24 million "on the back of a material improvement [in] conditions we did not expect until late FY26." Yet the bank remains cautious on Sims's recovery from an earnings trough given ongoing headwinds in Asia. Pressure on earnings in the company's Australia and New Zealand Metal business "should now be the focus," Thackray says. Shares in Sims ended Thursday at A$12.40 after a 12% jump. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

September 19, 2024 19:24 ET (23:24 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2468320526?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-20 07:24","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2468320526","market":"sg","top_or_hot":-1,"title":"Sims U.S. Business Shines, But Asia Headwinds Remain -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  2324 GMT - Sims's upbeat update on its North America Metal business shows a turnaround in earnings well ahead of expectations, says Jefferies analyst Simon Thackray. Jefferies upgrades its FY 2025 Ebit forecast for that division to A$105 million from A$24 million \"on the back of a material improvement [in] conditions we did not expect until late FY26.\" Yet the bank remains cautious on Sims's recovery from an earnings trough given ongoing headwinds in Asia. Pressure on earnings in the company's Australia and New Zealand Metal business \"should now be the focus,\" Thackray says. Shares in Sims ended Thursday at A$12.40 after a 12% jump. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 19, 2024 19:24 ET (23:24 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sims U.S. Business Shines, But Asia Headwinds Remain -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSims U.S. Business Shines, But Asia Headwinds Remain -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-20 07:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2324 GMT - Sims's upbeat update on its North America Metal business shows a turnaround in earnings well ahead of expectations, says Jefferies analyst Simon Thackray. Jefferies upgrades its FY 2025 ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SMSMY","symbol_name":"Sims Ltd","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2468320526","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468320526","pubTimestamp":1726788240,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2324 GMT - Sims's upbeat update on its North America Metal business shows a turnaround in earnings well ahead of expectations, says Jefferies analyst Simon Thackray. Jefferies upgrades its FY 2025 Ebit forecast for that division to A$105 million from A$24 million \"on the back of a material improvement [in] conditions we did not expect until late FY26.\" Yet the bank remains cautious on Sims's recovery from an earnings trough given ongoing headwinds in Asia. Pressure on earnings in the company's Australia and New Zealand Metal business \"should now be the focus,\" Thackray says. Shares in Sims ended Thursday at A$12.40 after a 12% jump. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SMSMY":"Sims Ltd","BK7129":"钢铁","BK4006":"钢铁","SGM.AU":"SIMS LTD"},"translate_title":"Sims美国业务大放异彩，但亚洲阻力依然存在——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SGM.AU":0.9,"SMSMY":0.9},"content_text":"2324 GMT - Sims's upbeat update on its North America Metal business shows a turnaround in earnings well ahead of expectations, says Jefferies analyst Simon Thackray. Jefferies upgrades its FY 2025 Ebit forecast for that division to A$105 million from A$24 million \"on the back of a material improvement [in] conditions we did not expect until late FY26.\" Yet the bank remains cautious on Sims's recovery from an earnings trough given ongoing headwinds in Asia. Pressure on earnings in the company's Australia and New Zealand Metal business \"should now be the focus,\" Thackray says. Shares in Sims ended Thursday at A$12.40 after a 12% jump. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 19, 2024 19:24 ET (23:24 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468320526"}