Australian steelmaker BlueScope Steel has announced that it has increased its guidance for underlying earnings before interest and tax (EBIT) for the second half of the financial year 2022-23 to $700-770 million, compared to the previous guidance of $480-550 million.
The main contributors to the improved outlook for underlying EBIT for the second half of the financial year 2022-23 are strong hot rolled coil prices and sales, and the expectation of higher production at the North Star facility.
The revised guidance is subject to sales, foreign exchange and market conditions.