Steel & Tube confirms it will meet downgraded guidance

Steel & Tube Holdings has affirmed it will meet the downgraded guidance it provided in late May for the year ended June.

The company says it confirms earnings before interest and tax will come in at $15.5-$17.5 million compared with a normalised $16.5 million the previous year. The May guidance was down from $25 million.

“Market share and volume gains have led to an increase in revenue, disciplined cost management has seen operating costs reduce and the company has a strong balance sheet with net debt reduced to $15 million,” the company says in a brief statement.

It will report the actual results on Friday, Aug. 23.

Steel & Tube shares ended trading yesterday at 87 cents and are down more than 35 percent from a year ago.

(BusinessDesk)

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

April 8th Morning Report
ATM - In principle agreement to settle shareholder class action
SUM - 1Q26 Metrics - Sales of Occupation Rights
GMT corporatised and stapled structure completed
April 7th Morning Report
KMD completes Placement and Institutional Entitlement Offer
SML - North Island asset sale completed
RAD - Radius Care Expansion Continues with Care Home Acquisition
PFI - Property for Industry Limited Bond Offer Final Terms Sheet
April 1st Morning Report