Steel & Tube confirms it will meet downgraded guidance

Tue, 30 Jul 2019

By Jenny Ruth July 31 (BusinessDesk) - Steel & Tube Holdings has affirmed it will meet the downgraded guidance it provided in late May for the year ended June. The company says it confirms earnings before interest and tax will come in at $15.5-$17.5 million compared with a normalised $16.5 million the previous year. The May guidance was down from $25 million. “Market share and volume gains have led to an increase in revenue, disciplined cost management has seen operating costs reduce and the company has a strong balance sheet with net...

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