Steel Mills
March 18, 2020
BlueScope Withdraws Earnings Guidance Due to Global Challenges
Written by Sandy Williams
Australian steelmaker BlueScope withdrew its earnings guidance for the second half of FY 2020 based on challenges it foresees related to the COVID-19 global outbreak.
Previously, the company believed earnings would be similar to 1H FY 2020 earnings of $302.4 million. Although group performance to date, including stable performance at North Star BlueScope, has been in line with expectations, unprecedented economic uncertainty related to the spread of the virus and its subsequent disruption to business activity has prompted BlueScope to withdraw its outlook for the second half.
