Australian steelmaker BlueScope Steel posted a net profit of A$390.8 million ($276.33 million) for the first half ended December 31 of the 2025-26 financial year, up 118.2% from a net profit of A$179.1 million in the first half of the previous financial year. The company's sales revenue in the period increased 3.9 percent year-on-year to A$8.22 billion ($5.82 billion), driven by higher underlying US selling prices coupled with higher volumes and the benefit of favorable foreign exchange rates.
Meanwhile, BlueScope's underlying EBIT for the period was A$557.5 million ($395.12 million), compared to A$308.8 million in the first half of the 2024-25 financial year.
BlueScope said its Australian Steel Products segment saw lower revenues and profits in the first half of the 2025-26 financial year due to weaker prices and spreads, despite improving domestic construction volumes, while exports fell amid production issues and trade disruptions. In North America, the company achieved a strong earnings recovery, supported by stronger steel spread sales and full-capacity deliveries at North Star, with additional support from improved volumes and cost controls in its buildings and coated products operations. In Asia, lower selling prices weighed on revenues, although margins improved overall as strong performance in Southeast Asia offset weaker demand and margins in China, while BlueScope
