STU - Steel & Tube Holdings

[Arbroath]

I'm going with 17.5-18.0cps for earnings and 13.0cps for the FY Div.

The interesting part will be how confident they are that FY23 can be near the FY22 result. If that is the case then $1.50+ is likely imho.

[winner (n)]

My calculated EPS forecast for F22  is 18.2 cents

Pretty cool eh ....esp if thy dish most of it out before they get excited and spend it

[Shareguy]

It seems we all on same page so far. Will be interesting re any forecast or insights into 2023.

[Rawz]

Good stuff. Go STU you beauty

[winner (n)]

Vulcan acquire Urlich at 3.3 times ebitda

Same multiple applied to STU is $1.27

[Arbroath]

And same multiple applied to VSL would be about $5.00 or just over half their current share price

[Shareguy]

Share price starting to show promise. Result on Monday

[Shareguy]

Fletchers saying Steel division up 40 percent for FY23.

Also looking at Bluscope result. NZ Steel EBIT Year June 22 was $229m - UP 76% on prior year.

STU looking undervalued in my opinion. It's going to be a great result and based on FBU guidance expecting STU to be also positive.

[teabag]

Been steadily accumulating small dollops over last year.  Excellent divvy and reasonable SP gain prospects.
Waiting for results ...

[Clearasmud]

Fletchers saying Steel division up 40 percent for FY23.

Also looking at Bluscope result. NZ Steel EBIT Year June 22 was $229m - UP 76% on prior year.

STU looking undervalued in my opinion. It's going to be a great result and based on FBU guidance expecting STU to be also positive.

We can expect an increase in the dividend then like FBU.

[Shareguy]

Stu forecasts for FY22 result

                  NPAT.      EPS.        DPS

Craig's        $30m.       18c.        12.5

Jarden.       $29.4.       17c.        12.4

Forbar.        $30.2.      18.3.        11.0

Shareguy     $32m.       19c.        13 min

FY21.           $16.1.        9.8          4.5.    Actual from annual report




After Fletchers bullish FY23 forecast much will depend on what is said going forward.  Brokers have FY23 going backwards.

[lorraina]

The outlook statement will be all important.

[winner (n)]

Stu forecasts for FY22 result

                  NPAT.      EPS.        DPS

Craig's        $30m.       18c.        12.5

Jarden.       $29.4.       17c.        12.4

Forbar.        $30.2.      18.3.        11.0

Shareguy     $32m.       19c.        13 min

FY21.           $10m.        5.92.      4.5.    Actual




After Fletchers bullish FY23 forecast much will depend on what is said going forward.  Brokers have FY23 going backwards.

Typo shareguy ...F21 was $16.1m and 9.8 cents/share

[Shareguy]

Whoops. Good spotting winner.  Got that information from Craig's research report which is a worry.  Have amended now.

[Left Field]

Just in..... gotta love that Divvy....11.4% ! Holders be happy.

https://www.nzx.com/announcements/397310

RECORD RESULTS AND DOUBLING OF PROFIT FOR STEEL & TUBE

• Record results with revenue of $599.1m, strong uplift in gross margin and net profit after tax almost doubling to $30.2m.

• Earnings momentum driven by a focus on customer service, trading disciplines, operational excellence, supply chain management and positive market conditions.

• Final, partially imputed, dividend of 7.5 cents per share (50% imputed), taking total dividends to 13.0 cents per share, equating to a gross yield of 11.4% (*1).

• Strategic focus on strengthening the core and growing high value products, services and segments.

• Well positioned to deliver through the economic cycle while continuing to invest in growth and deliver sustainable double-digit ROFE.

$m / FY22 / FY21 (*2) / Variance %
Revenue / $599.1 / $481.0 / 24.6%
Volume (Ktonnes) / 167 / 158 / 5.7%
EBITDA / $66.6 / $38.6 / 72.5%
Normalised EBITDA (*3) / $66.9 / $37.6 / 77.9%
EBIT / $47.6 / $20.7 / 130.0%
Normalised EBIT (*3) / $47.9 / $19.7 / $143.1%
NPAT / $30.2 / $15.4 / 96.4%
EPS / 18.3 cps / 9.3 cps / 96.8%
Dividend / 13.0 cps / 4.5 cps / 188.9%