Sydney, Feb 17, 2026, 18:07 AEDT — Market closed.
- BlueScope Steel finished the session at A$28.00, slipping roughly 1.3% for the day
- Investors continue to work through the FY26 half-year results, a more upbeat earnings forecast, and news of an expanded capital return plan.
- Next up: the Feb. 20 ex-dividend date, tied to the 65-cent interim payout.
BlueScope Steel dipped for a second straight session on Tuesday, with its shares last quoted at A$28.00—off A$0.37, or roughly 1.3%, from the previous close, as the Australian market ended for the day. (Investing.com)
Shares stay on the back foot, despite the steelmaker boosting its second-half earnings forecast and signaling higher cash payouts just a day earlier. The half-year profit topped estimates, but that hasn’t eased the pressure.
The stock dropped 2.7% to close at A$28.37 on Monday. Marc Jocum, senior product and investment strategist at Global X ETFs, called the move “more like a recalibration around second-half expectations and where we sit in the cycle.” (Reuters)
BlueScope logged a first-half net profit after tax of A$391 million, with underlying EBIT coming in at A$558 million, the company said in its ASX filing. That EBIT figure excludes one-offs, reflecting operating profit before interest and tax. For the second half, BlueScope is eyeing underlying EBIT of A$620 million to A$700 million, buoyed by firmer U.S. steel spreads—the margin between selling prices and input costs—and higher sales volumes. CEO Tania Archibald described the business as “approaching an inflection point” now that major projects are nearing completion.
The board signed off on an interim dividend of 65 Australian cents per share, unfranked—so no Australian tax credits attached, according to the half-year report. Shares go ex-dividend on Feb. 20, with the record date falling on Feb. 23. Payment lands March 24. Dividend reinvestment plan? Not running this time. In the same filing, the company stuck to its earlier A$1-a-share special dividend, set for Feb. 24, and mapped out plans for a A$3 per share capital return in 2026, which includes a A$310 million on-market buyback.
BlueScope’s results included news of its 50% stake sale in Tata BlueScope Steel to Tata Steel, generating a net pre-tax gain of A$57 million. The company also pointed to a A$76 million deal to offload 33 hectares at its West Dapto property, but noted the transaction is now expected to wrap up in the second half. (Company Announcements)
Archibald stepped into the roles of managing director and chief executive on Feb. 2, following a previously announced leadership shift at the company. (BlueScope)
Right now, it’s all about the cycle. BlueScope’s rosier forecast is staked on U.S. spreads staying firm. If those spreads drop sharply—or if the Australian dollar suddenly strengthens—earnings momentum could stall fast, and the buyback equation gets a lot messier.
Takeover chatter could shake things up, though the most recent filings and statements haven’t shown any new bids on the table.
