Australia's BlueScope rises; Morningstar retains FY26 outlook despite EBIT warning

BLUESCOPE STEEL

19/11/2025 04:52

** Steelmaker BlueScope BSL.AX climbs 2.5% to A$22.66, rebounding from a 1.7% slide in the previous session

** Morningstar says BSL's signal on Tuesday that HY underlying EBIT will land at the low end of outlook does not surprise them

** In August, co had said it expected to post HY EBIT between A$550 million and A$620 million ($357.12 million - $402.57 million)

** The investment research firm maintains FY26 underlying EBIT at A$1.05 billion, driven by higher steel prices in the North America business

** Adds that BSL's steel in the region of Australia and New Zealand largely feeds construction, but high rates have kept homeowners from building or renovating

** Morningstar expects the drag to ease as the RBA's rate cuts revive housing activity
** YTD, stock is up 21% including the day's moves

($1 = 1.5401 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))