Steel & Tube affirms guidance citing new contracts, cost savings

Sun, 23 Sep 2018

By Gavin Evans Sept. 24 (BusinessDesk) - Steel & Tube Holdings has reaffirmed its full-year earnings guidance citing new customer contracts and progress with efforts to streamline its business and cut costs. The firm, which incurred almost $54 million in write-downs and restructuring costs last year, reiterated that it expects to report earnings before interest and tax of $25 million in the financial year ending June 30. That is up from $16.5 million last year before one-off items. Chair Susan Paterson said the board is pleased with pr...

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