BlueScope Steel Ltd
BSL: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$84.00 | Ysk | Kbymmcp |
Bluescope Earnings: Lower Steel Spreads Drag on Outlook
Bluescope’s underlying operating income of AUD 1.3 billion fell 17% on the previous corresponding period due to substantially lower steel spreads in Australia and North America. The result was as expected, with Asian steel spreads at the bottom of the cycle, US spreads the lowest since the pandemic, and inflationary cost pressures weighing on Australian margins.