Australian steelmaker BlueScope Steel has reported first-half earnings that surpassed market expectations and upgraded its outlook for the second half of the financial year, supported by stronger steel spreads, improved volumes and disciplined cost management.
For the six months ended December 31, 2025, the company posted an underlying EBIT of A$557.5 million and a net profit after tax of A$382 million, marking a significant year-on-year increase. The performance was driven by stronger realised steel spreads in the United States business, higher sales volumes across key markets and continued focus on operational efficiencies.
Encouraged by the momentum, BlueScope lifted its second-half underlying EBIT guidance to a range of A$620 million to A$700 million, signalling confidence in demand conditions and execution capabilities across its operating regions.
The company also declared an interim dividend of 65 cents per share, more than double the payout in the corresponding period last year. In addition, it announced a A$310 million share buyback programme, reinforcing its commitment to capital returns and balance sheet strength.
Management highlighted ongoing progress in strategic initiatives, including portfolio optimisation and disciplined capital allocation, aimed at enhancing long-term shareholder value.
While broader macroeconomic uncertainties and raw material price volatility remain factors to watch, the latest results underscore improving fundamentals in the steel sector, particularly in markets supported by construction and infrastructure demand.
