STU - Steel & Tube Holdings

[winner (n)]

The STU chart - I see non wedges or triangles on it

Just one long downtrend that started 20 years ago when share price hit $5

[BlackPeter]

The STU chart - I see non wedges or triangles on it

Just one long downtrend that started 20 years ago when share price hit $5

As always - it depends on the perspective and on the scale.

I suppose I don't need to draw the lines for you, but from 2022 to 2025 the borders of the "channel" clearly come closer ... this is what one tends to call a wedge. 

[winner (n)]

May building consents down again

Stats NZ say flattening out ....I say still going backwards but at slower rate.

2028 seems a long way off for Mark

[winner (n)]

Starting to look good for STU

National  JUST ANNOUNCED: $6 billion worth of infrastructure projects are getting underway in the next few months, which will grow NZ's economy and create thousands of jobs across the country.

And help the likes of STU

[anotherday]

It seems that a large selling order blocks the way, anyone can see the amount?

Kiwirail will kick start soon, hopefully STU will share a slide of the pie.

[LoungeLizard]

It seems that a large selling order blocks the way, anyone can see the amount?

Kiwirail will kick start soon, hopefully STU will share a slide of the pie.

Can't see it myself. Buy side looks heavy but not with great conviction. Market needs to see the talk being translated into better financials - a dividend would be a good place to start - and then we might see some action.

[Crackity]

Vulcan results and commentary just out - I suspect they may be referencing STU amongst others in regard to unsustainable pricing...



Commenting on these results, Vulcan's Managing Director and Chief Executive Officer Rhys Jones said,
 
 "The 2025 financial year was influenced by persistent economic challenges in both New Zealand and Australia. These ongoing challenges contributed to a demanding trading environment and triggered aggressive, and in our view unsustainable, pricing by some market participants in the industry. During the year, cautious consumer and business sentiment, and broader macroeconomic uncertainties affected trading.
 
 Despite this decline, there are encouraging signs that the downward trend is beginning to level out. In the last three months, our overall daily sales activity has shown signs of stabilisation, suggesting that the business may be moving towards a more consistent footing. Furthermore, we are beginning to see early signs of renewed momentum in specific customer segments, and a modest uplift in activity.

[winner (n)]

Readymix volumes for June quarter were 10% less than last year

Green shoots eh ...poor Mark will be lamenting another bad period ...maybeceven worse than what Vulcan just experienced

[winner (n)]

Full year results tomorrow

Probably pretty horrible but Mark will say the worst is behind them and F26 will be pretty good.

Looking forward to the result ....even if it just because of my morbid fascination with how bad/ disappointing they've been over the years

[Crackity]

Steel & Tube FY25 Results

 Disciplined Execution of Strategy in a Challenging Cyclical Market
 
 Steel & Tube Holdings Limited (NZX: STU) has reported its audited results for the 12 months ended 30 June 2025 (FY25).
 
 • Economic headwinds affected volumes, revenue and margins
 
 • Recent growth investments delivering revenue, margin and earnings growth
 
 • Responsiveness to cycle; ~$7m annualised cost out programme and prudent inventory management
 
 • Customer service remains a key strength with c.13,000 active customers
 
 • Some activity lift in 2H25 and expected to improve through FY26, market remains highly competitive
 
 • Significant operating leverage, driven by cost out and addition of higher value products and services
 
 CEO Mark Malpass commented: "In a very challenging bottom of cycle trading environment, we have continued to execute on our strategy – strengthening our core and investing in high value products and services that further expand our leading range of steel solutions and businesses. Unfortunately our financial results are so bad that we are not giving you the figure till the very end of this release. The acquisition of Perry Metal Protection – a market leader in galvanizing services – was a highlight for the year and is performing ahead of expectations. We have also strengthened our customer value proposition and are increasingly being selected as a preferred supplier, delivering quality and reliability. Our operating leverage has increased as we have focussed on IT/digital systems, costs and efficiency. This will drive margin expansion and profit growth as the economic cycle recovers though we may not be around to see it.

[winner (n)]

There's a cool chart in the STU preso giving comfort to how good things are going to be

Attached below

Note the LONG TERM GROWTH trend line they have included

Sad thing is that over the years STU's sales and profits don't follow an upward trend

You cannot view this attachment.

[LoungeLizard]

Not much to cheer about in the result. No dividend, net loss, revenue and Ebitda still going backwards significantly. The SP will get hammered I would imagine.

Companies like STU are the canary in the coal-mine and until (or if!) the economy recovers the construction and related industries are going to be in the doldrums for some time. STU's management have done pretty much all they can do cost-wise. Not much they can do about the absence of demand for their products. The coalition government are diligently eradicating any signs of growth through their austerity policies, so until there's a change in Government I don't see any change in STU's, or the country's, fortunes.

[Cod]

Continuation of trend, fractal 4 evolving, decision point (exit of wedge) $0.50c.
You cannot view this attachment.

[Basil]

Shareholders must be feeling super excited about the annual report Cover.  Our purpose, to make life easier for our customers.  https://api.nzx.com/public/announcement/457362/attachment/450300/457362-450300.pdf

[winner (n)]

Shareholders must be feeling super excited about the annual report Cover.  Our purpose, to make life easier for our customers.  https://api.nzx.com/public/announcement/457362/attachment/450300/457362-450300.pdf

Well well.....selling prices were on average down about 10%.

That's a good start

But wil need to try harder as Net Promoter Score fell from 50 to 42 in year