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Better Margins, Prices Expected to Boost BlueScope's Bottom Line
07/14/2016 - Australia’s BlueScope Steel Ltd. said it expects to beat its second-half earnings guidance due to higher margins in its U.S. businesses and greater Asian steel prices.
For the second half, which ended 30 June 2016, the company said it likely will report earnings before interest and tax of approximately AU$340 million, exceeding its prior estimate of AU$270 million.
The company also said it expects to lower its net debt by around AU$593 million from 31 December 2015. BlueScope said the reduction was largely driven by a strong operating cash flow.
The company also said it expects to lower its net debt by around AU$593 million from 31 December 2015. BlueScope said the reduction was largely driven by a strong operating cash flow.
