The BlueScope Steel Ltd (ASX: BSL) share price is in focus after the company delivered a massive 857% lift in net profit after tax (NPAT) to $802 million for FY2026, with underlying EBIT jumping to $1.27 billion. Dividend payments also surged, completing the $3 per share plan for CY2026.
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What did BlueScope report?
- FY2026 reported NPAT: $802 million, up 857% on last year
- Underlying EBIT: $1,273.4 million, significantly higher than FY2025
- Final ordinary dividend: 65 cents per share plus a special dividend of 70 cents per share
- Record sales of COLORBOND and TRUECORE steel in Australia
- Strong North America performance: underlying EBIT up 101% to $1,034 million
- Southeast Asia EBIT hit a record $157 million for the year
What else do investors need to know?
BlueScope finished its planned CEO succession and is shifting its focus from major capital projects to ramping up shareholder returns, with capital expenditure winding down. The company fully delivered a $200 million cost and productivity program and has committed to a further $150 million in cost benefits for FY2027.
The business made progress in commercialising surplus land and is targeting at least 75% of free cash flow for shareholder returns, supporting its plan to deliver another $3 per share to investors in FY2027. Major projects—in New Zealand and Western Sydney—have moved to commissioning and ramp-up, showing ongoing focus on decarbonisation and value-add.
What did BlueScope management say?
Commenting on the results, BlueScope Steel's managing director and CEO, Tania Archibald, said:
FY2026 was a defining year for BlueScope. Our robust results demonstrate the quality of our assets and management discipline through a period of significant investment and change… These actions position BlueScope for higher earnings, stronger cash generation and greater shareholder returns.
What's next for BlueScope?
Looking to FY2027, BlueScope expects to build on its momentum, supported by strong North American operations and early recovery in Australia. The company forecasts underlying EBIT of $860 million to $960 million for 1H FY2027, pending steel spreads and economic conditions.
BlueScope will continue to focus on ramping up new projects, cost efficiency, and progressing its decarbonisation pathway, including investigating new lower-emissions steelmaking technologies. The company says improved cash flow generation will help underpin enhanced shareholder returns.
BlueScope share price snapshot
BlueScope's share price has outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a 45% gain. This reflects resilience in earnings, strong North American growth, and increased returns to shareholders.
