Bluescope 1H22 Earnings

BlueScope Steel is under Algo Engine buy conditions.

With $285M of stock bought since August 2021, the Board has approved an increase in the scale of the buy-back program to allow up to a further $700 million to be bought over the next 12 months

BlueScope delivers record underlying EBIT of $2.20Bn, increases on-market buy-back; commences feasibility, analysis on blast furnace reline at Port Kembla

1H FY2022 Headlines
Reported NPAT: $1.64Bn
Underlying NPAT: $1.57Bn
Underlying EBIT: $2.20Bn

2H FY2022 GROUP OUTLOOK: Underlying EBIT in 2H FY2022 is expected to be in the range of $1.20 billion to $1.35 billion.

BlueScope – Add to Watch List

BlueScope Steel is under Algo Engine buy conditions and we see the current selloff as a buying opportunity.

BSL reported net profit fell 70% to $186 million 2H19 from $624 million on the same time last year. Revenue dropped 8% to $5.8bn from $6.4bn.

EBIT fell 64% $302 million from the year-earlier $850 million.

The company indicated EBIT in the 1H20, had renewed caution because of the uncertain impact from coronavirus on its businesses and customers.

Value is likely to emerge near the $12.50 price level. We add this to our watchlist