Sims Projects Strong Fiscal Year 2026 Outlook Despite Global Market Pressures; Shares Up 9%

MT Newswires Live

Mar 18

Sims (ASX:SGM) said it expects fiscal year 2026 underlying earnings before interest and taxes (EBIT) of AU$350 million to AU$400 million, driven by strong performance in its lifecycle services and metal businesses, with only limited impact from the Middle East conflict, according to a Wednesday Australian bourse filing.

The company expects underlying EBIT for its Sims Lifecycle Services unit to range from AU$165 million to AU$185 million, driven by strong secondary-market DDR4 prices and sustained hyperscaler activity, per the filing.

The metal business remained supported by strong non-ferrous prices, improved US domestic ferrous prices, and a focus on sourcing unprocessed material, despite ongoing pressure on scrap prices from elevated Chinese steel exports in export and ANZ domestic markets, the filing said.

The company's shares rose 9% in recent Wednesday trade.

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