The company’s operations in the US, particularly its North Star electric arc furnace (EAF) facility in Ohio, made a significant contribution to the improvement in financial performance.
During fiscal 2026, covering the period from July 1, 2025 to June 30, 2026, BlueScope’s earnings before interest and tax (EBIT) exceeded AUD 1.2 billion. The company’s reported EBIT increased by %306 compared with the previous fiscal year.
BlueScope Managing Director and CEO Tania Archibald stated that fiscal 2026 was a significant year for the company, emphasizing that the results demonstrated the strength of its assets and management discipline during a period of major investments and transformation.
US operations’ EBIT increased by %101
BlueScope reported that underlying EBIT from its US operations, which include the North Star steel facility in Ohio, nearby metal recycling facilities and building products operations, increased by %101 year on year in fiscal 2026.
According to the company, the North Star facility benefited from stronger margins and a favorable product mix in late 2025 and early 2026.
The Ohio facility continued to operate at %100 capacity during the period, while additional production volumes resulting from efforts to address capacity bottlenecks also came online.
AI used to improve scrap utilization
BlueScope continues to use its recycling facilities in the US Midwest to increase the consumption of low residual scrap at the North Star EAF facility.
The company also stated that it is increasingly using artificial intelligence tools to improve scrap utilization efficiency.
BlueScope is also continuing the commissioning process for its new low emission EAF in New Zealand.
Archibald stated that the new EAF is transforming the company’s steelmaking process and providing a flexible production model that can be adapted to demand.
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