Australia's Sims on track for best day in over 4 years on FY26 earnings outlook upgrade

Sims

17/03/2026 23:51

** Shares of Australia's Sims SGM.AX rise as much as 16.8% to A$21.99, their biggest intraday gain since February 15, 2022, if the trend holds

** Stock hits its highest level since March 2, 2026

** Scrap recycler now expects FY26 underlying EBIT between A$350 million ($248.68 million) and A$400 million, up from A$174.9 million in FY25

** Says metal business continues to be supported by strong non-ferrous prices, improved US domestic ferrous prices, among others

** Stock up 14.6% YTD, including the day's moves

($1 = 1.4075 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))