BlueScope Steel's Profit Downgrade Not Surprising -- Market Talk

Dow Jones10-29

0359 GMT - BlueScope Steel's profit warning wasn't entirely unexpected by RBC Capital Markets. BlueScope now expects 1H earnings before interest and tax of between A$270 million and A$310 million. The midpoint of the range represents a 25% cut to its earlier guidance. "Given its offshore peers have confirmed similar challenging trading patterns both across Asia and North America, we think it is not surprising to see BlueScope downgrade its 1H guidance today," analyst Owen Birrell says. The seaborne steel market remains in oversupply as China exports surplus material, he says. RBC expects BlueScope's earnings to bottom out in FY 2025, but efforts to cut costs will help. RBC maintains its outperform rating on BlueScope. Shares are down 0.8% at A$21.02. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 28, 2024 23:59 ET (03:59 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/2479641414?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-29 11:59","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2479641414","market":"us","top_or_hot":-1,"title":"BlueScope Steel's Profit Downgrade Not Surprising -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0359 GMT - BlueScope Steel's profit warning wasn't entirely unexpected by RBC Capital Markets. BlueScope now expects 1H earnings before interest and tax of between A$270 million and A$310 million. The midpoint of the range represents a 25% cut to its earlier guidance. \"Given its offshore peers have confirmed similar challenging trading patterns both across Asia and North America, we think it is not surprising to see BlueScope downgrade its 1H guidance today,\" analyst Owen Birrell says. The seaborne steel market remains in oversupply as China exports surplus material, he says. RBC expects BlueScope's earnings to bottom out in FY 2025, but efforts to cut costs will help. RBC maintains its outperform rating on BlueScope. Shares are down 0.8% at A$21.02. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 28, 2024 23:59 ET (03:59 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>BlueScope Steel's Profit Downgrade Not Surprising -- 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\">\nBlueScope Steel's Profit Downgrade Not Surprising -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-29 11:59 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>0359 GMT - BlueScope Steel's profit warning wasn't entirely unexpected by RBC Capital Markets. BlueScope now expects 1H earnings before interest and tax of between A$270 million and A$310 million. The...</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":"BSL.AU","symbol_name":"BLUESCOPE STEEL LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2479641414","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479641414","pubTimestamp":1730174340,"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":"0359 GMT - BlueScope Steel's profit warning wasn't entirely unexpected by RBC Capital Markets. BlueScope now expects 1H earnings before interest and tax of between A$270 million and A$310 million. The midpoint of the range represents a 25% cut to its earlier guidance. \"Given its offshore peers have confirmed similar challenging trading patterns both across Asia and North America, we think it is not surprising to see BlueScope downgrade its 1H guidance today,\" analyst Owen Birrell says. The seaborne steel market remains in oversupply as China exports surplus material, he says. RBC expects BlueScope's earnings to bottom out in FY 2025, but efforts to cut costs will help. RBC maintains its outperform rating on BlueScope. Shares are down 0.8% at A$21.02. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"BSL.AU":"BLUESCOPE STEEL LTD"},"translate_title":"博思格钢铁利润下调并不令人意外——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BSL.AU":0.9},"content_text":"0359 GMT - BlueScope Steel's profit warning wasn't entirely unexpected by RBC Capital Markets. BlueScope now expects 1H earnings before interest and tax of between A$270 million and A$310 million. The midpoint of the range represents a 25% cut to its earlier guidance. \"Given its offshore peers have confirmed similar challenging trading patterns both across Asia and North America, we think it is not surprising to see BlueScope downgrade its 1H guidance today,\" analyst Owen Birrell says. The seaborne steel market remains in oversupply as China exports surplus material, he says. RBC expects BlueScope's earnings to bottom out in FY 2025, but efforts to cut costs will help. RBC maintains its outperform rating on BlueScope. Shares are down 0.8% at A$21.02. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 28, 2024 23:59 ET (03:59 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":0},"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/2479641414"}