Bluescope Steel Limited (AU:BSL)
ASX:BSL
Earnings Data
Report Date
Aug 17, 2026TBA (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
0.98Last Year’s EPS
0.56Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced strong operational and financial progress — material underlying EBIT growth, near-zero net debt, clear project completions and a substantial step-up in shareholder returns — against notable near-term headwinds including a tragic safety incident, persistent low Asian steel spreads, transitional impacts in New Zealand and a still loss‑making BCP business. Management provided credible delivery milestones (project capacities, cost programs, property realization) and conservative guidance assumptions, and signaled a shift from investment to returns backed by a prudent (if higher) leverage tolerance.Company Guidance
Strong Group Underlying Profit Performance
Underlying EBIT of $558 million in H1 FY26, up $249 million (+~81% year-on-year from ~$309m) demonstrating portfolio strength; reported net profit after tax $391 million.
Very Low Net Debt / Strong Liquidity Position
Net debt of only $2 million at the half (effectively ungeared) with liquidity ~ $3.2 billion, giving flexibility for capital returns and continued investment.
Upgraded Capital Return Framework and Immediate Pay-out Plan
Shareholder distribution target increased to at least 75% of free cash flow (from 50%); plan to deliver $3.00 per share in calendar 2026 (includes $1.00 special, $1.30 annual ordinary at $0.65 interim, and $0.70 via a $310m on‑market buyback or equivalent).
Clear Near-Term Guidance with Upward H2 Expectation
H2 FY26 underlying EBIT guidance of $620–$700 million, driven by stronger U.S. steel spreads and improved sales volumes (guidance assumes A$0.70 FX rate).
Major Projects Nearing Completion — Capacity Uplifts
North Star debottlenecking to unlock ~300,000 tpa additional capacity; Western Sydney metal coating line (MTL7) adds ~240,000 tpa coating capacity (start-up mid-year); Port Kembla plate mill upgrades and NZ EAF commissioning progressing.
Regional Outperformance — North America
North America underlying EBIT $447 million (up $115m half-on-half); North Star EBIT $321 million, operations at ~100% utilization and a new daily production record; regional ROIC strong at 13.6%.
Delivered Substantial Cost and Productivity Gains
Delivered $190 million of annualized benefits from the existing $200 million program (up from $130m at end FY25); new $150 million cost-reduction program launched targeting full run rate by start of FY27.
Surplus Land Portfolio Acceleration and Early Realizations
1,200-hectare surplus land portfolio being accelerated: sale of 33 hectares (West Dapto) for $76 million (>350 residential lots); Glenbrook NZ ground lease for 100MW battery; process commenced for a 65-hectare Western Port logistics hub — property pathway expected to materially contribute to working capital release.
Medium-Term Growth Targets Defined
Targeting a $500 million EBIT uplift by 2030 split across regions (North America >$200m, Australia >$125m, Asia & NZ ~ $150m) and a shift toward premium/value‑added products (COLORBOND, TRUECORE) with COLORBOND volumes 322,000t in H1 and up 25% vs H1 2016; TRUECORE up 155% vs H1 2016.
AU:BSL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FAQ
When does Bluescope Steel Limited (AU:BSL) report earnings?
Bluescope Steel Limited (AU:BSL) is schdueled to report earning on Aug 17, 2026, TBA (Confirmed).
What is Bluescope Steel Limited (AU:BSL) earnings time?
Bluescope Steel Limited (AU:BSL) earnings time is at Aug 17, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is the P/E ratio of Bluescope Steel Limited stock?
The P/E ratio of Bluescope Steel is N/A.
What is AU:BSL EPS forecast?
AU:BSL EPS forecast for the fiscal quarter 2026 (Q4) is 0.98.