Steel & Tube releases earnings guidance; wants in on cyclone rebuild

The expansion of Steel & Tube’s aluminium offer was popular. (Image: Steel & Tube)

Wed, 10 May 2023

Steel & Tube is expecting earnings to be around the $50 million mark as the company says it is still performing well against a backdrop of tightened economic conditions and weather events.The steel distributor told the market earnings before interest, taxes, depreciation and amortisation (Ebitda) is expected to be in the ballpark of between $48m and $52m for its financial year ending June.Although revenues have continued to grow, driven by elevated international pricing, higher input prices and cost pressures had an impact on margins.&ldquo...

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