Steel & Tube pushes return to 'normal' earnings beyond 2021

Thu, 26 Sep 2019

By Jenny Ruth Sept. 26 (BusinessDesk) - Steel & Tube Holdings has pushed out its target for earning more than $30 million a year in operating profit from 2021 to an undetermined time beyond that. The company managed to produce $16 million in earnings before interest and tax in the year ended June, well short of its original $25 million target. "Longer-term, we still see a business that's capable of generating $30-35 million in ebit but it's going to take us longer to get there than the initial three-year period that we expected" in Sep...

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