BlueScope upgrades 1H FY2027 earnings guidance; underlying EBIT to be approaching $1.1 billion. BlueScope today updated its outlook for 1H FY2027 underlying earnings before interest and tax (EBIT). BlueScope now expects 1H FY2027 underlying EBIT to be approaching $1.1 billion, above the previous guidance range of $860-$960 million. BlueScope's Managing Director and CEO, Tania Archibald, said, "The increase is primarily driven by stronger than anticipated earnings from North Star on stronger US steel spreads, along with improved performance at Buildings and Coated Products North America and Australian Steel Products. "Conditions across the US steel industry and in its key North American end-use markets remain favourable, and the United States continues to demonstrate why it is such an attractive place to make and sell steel. Its high-quality North American footprint remains well positioned to benefit from ongoing industrial investment and economic growth. "BlueScope Steel Limited has also seen a stronger then expected performance from Australian Steel Products, driven by resilient domestic demand and higher value-added sales. "While market conditions remain dynamic, the performance we've seen through the first half reinforces our confidence in the strength of BlueScope's portfolio, the quality of our assets and our continued ability to deliver strong shareholder returns," Ms Archibald said. Trading update. North America The North America region is now expected to deliver a result around two-thirds higher than 2H FY2026, noting: * North Star is now expected to deliver a result approaching three-quarters higher than 2H FY2026. * The increase primarily reflects stronger benchmark steel spreads. Previous guidance was based on assumedbenchmark US mini-mill spreads of approximately US$750/t, with the current view of spreads for the half now expected to be around US$810/t[1] * The business has also benefited from solid operating performance, including delivery of volumes from its debottlenecking project. This is expected to deliver higher than anticipated despatch volumes. * Buildings and Coated Products North America is now expected to deliver earnings around 50 per cent higher than 2H FY2026. * The increase is predominantly driven by a stronger performance at the West Coast based Steelscape business on stronger despatch volumes and higher realised prices relative to prior guidance. * The Buildings North America business is also expected to deliver a modestly stronger result than prior expectations on improved operating margins. Australian Steel Products is now expected to deliver earnings approaching double that of 2H FY2026. * Reflecting the resilient demand environment for BlueScope's products, stronger domestic despatch volumes and realised spread outcomes are expected to more than offset the slightly softer than expected benchmark spreads assumptions incorporated in prior guidance. Other businesses Expected earnings across BlueScope's remaining businesses are broadly in line with the expectations incorporated in the August guidance update. BlueScope's 2026 Annual General Meeting (AGM) BlueScope will host its 2026 AGM on 16 November at 10.00am in Wollongong and online - more details can be found on BlueScope's AGM page. Further detail on operating conditions will be provided at the AGM. [1 Benchmark prices may not be representative of realised mill prices due to a range of factors. Movements in prices across the majority of sales correlate withMidwest regional benchmark pricing, on a short lag; a minority of sales are priced on a longer-term basis. Accordingly, the degree of correlation between realised and benchmark prices can vary in a given half but is more fully reflected over the medium term.]

BlueScope North America leadership update. BlueScope today announced that Kristie Keast, Chief Executive North America, will leave the Company at the end of October 2026. BlueScope Managing Director and CEO Tania Archibald said, "Kristie has made a significant contribution to BlueScope during her 25 year tenure. On behalf of the Board and Executive Leadership Team, I thank her for her leadership and commitment to the Company and wish her every success for the future." The Company has commenced a global internal and external search process for a permanent Chief Executive, North America. Following Ms Keast's departure in late October, Sue Stark, President BlueScope Buildings North America, will serve as interim leader of the North America business. Ms Archibald said North America remains an important business for BlueScope, reflecting both its significant contribution to Group earnings and its central role in the Company's growth strategy. North America is one of BlueScope's most important businesses, underpinning both current earnings and future growth. BlueScope Steel Limited has significant leadership depth across the region, and Sue and the broader North American management team will continue executing its strategy while BlueScope Steel Limited undertake a comprehensive global internal and external search for a permanent Chief Executive, North America," Ms Archibald said.

RBC Capital sticks to their Buy rating for Bluescope Steel (BLSFF). Oct. 2, 2026, 09:47 PM In a report released yesterday, Owen Birrell from RBC Capital maintained a Buy rating on Bluescope Steel, with a price target of A$38.00. According to TipRanks, Birrell is a 4-star analyst with an average return of 8.5% and a 58.85% success rate. Birrell covers the Industrials sector, focusing on stocks such as Auckland International Airport, Qantas Airways Limited, and Virgin Australia Holdings Limited. Currently, the analyst consensus on Bluescope Steel is a Moderate Buy with an average price target of A$35.62. Based on Bluescope Steel 's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of A$8.41 billion and a net profit of A$411.2 million. In comparison, last year the company earned a revenue of A$8.36 billion and had a GAAP net loss of A$95.3 million Read More on BLSFF: