Key Highlights

  • BlueScope (ASX:BSL) traded at $33.31, up 2.94%, after upgrading 1H FY2027 underlying EBIT guidance to approaching $1.1 billion.
  • IMDEX (ASX:IMD) reported record first-quarter FY27 revenue of $161 million, up 31%.
  • Korvest (ASX:KOV) reported FY26 revenue of $129.54 million, up 8.3%, and a 40.0 cent fully franked final dividend.

BlueScope Steel Limited (ASX:BSL) traded at $33.31, up 2.94%, on volume of 2,326,385 shares during the trading session on 26 October 2026, the same day it released a guidance update. IMDEX Limited (ASX:IMD) traded at $3.15, up 0.64%, on volume of 2,844,218 shares, and Korvest Ltd (ASX:KOV) traded at $14.39, up 0.28%, on volume of 81,385 shares. Each stock recorded unusual volume, meaning trading volume at least 50% above its average daily volume over the last month.

BlueScope: 1H FY2027 Guidance Upgrade on 26 October 2026

BlueScope now expects 1H FY2027 underlying EBIT to approach $1.1 billion, above its previous guidance range of $860 million to $960 million. The company attributed the change mainly to higher than anticipated earnings from North Star on higher US steel spreads, with improved performance in Buildings and Coated Products North America and Australian Steel Products.

North Star is expected to deliver a result approaching three-quarters higher than 2H FY2026, with benchmark US mini-mill spreads now expected at about US$810 per tonne against US$750 per tonne assumed previously, and higher despatch volumes from its debottlenecking project. Buildings and Coated Products North America is expected to be around 50% higher, and Australian Steel Products approaching double 2H FY2026. Other businesses are broadly in line with August guidance. The AGM is on 16 November 2026.

IMDEX: AGM Presentation and Trading Update Dated 16 October 2026

IMDEX's presentation cites FY26 revenue of $520 million, up 21%, normalised EBITDA of $163 million, up 29%, and normalised net profit of $59 million, up 37%. For the first quarter of FY27, revenue was a record $161 million, up 7% on the fourth quarter and 31% on the prior corresponding period, with organic growth of 21%. Platform revenue rose 44% to $82 million, or 51% of group revenue, while exploration drilling activity rose about 7%.

Platform-enabled hardware revenue increased 37% and product sales rose 25%, led by drilling fluids.

Korvest: FY26 Annual Result

Korvest reported FY26 revenue of $129.54 million, up 8.3%, driven by the day-to-day and small project markets in its industrial products segment, with data centre development noted as a positive influence. It declared a fully franked final dividend of 40.0 cents per share, following an interim 25.0 cents, to be paid on 25 September 2026 with a record date of 4 September. The final remediation cost of $566,000 for a third-party design fault was expensed, adding to $869,000 incurred earlier, and a $1.1 million settlement agreed in July 2026 will be recorded as other income in FY27. Its galvanising plant processed record tonnes, and four major projects continue into FY27.

About the Companies

BlueScope is a steel producer with operations in Australia, North America and other regions. IMDEX supplies cloud-connected sensors and drilling optimisation products to drilling contractors and resource companies under its AMC and REFLEX brands. Korvest makes EzyStrut cable and pipe supports and operates galvanising facilities in South Australia.

Risks

BlueScope's guidance depends on US steel spreads and other conditions, and the company notes market conditions remain dynamic and benchmark prices may not represent realised mill prices. IMDEX's growth is linked to exploration activity. Korvest's results depend on project timing and cost inputs, and it carried remediation costs in FY26.

Catalysts on Investors' Radar

BlueScope's AGM on 16 November, where it will give further detail on operating conditions, and its 1H result are named items. IMDEX will report further quarterly trading, and Korvest will report on its ongoing major projects.

Final Perspective

The three industrial companies traded on unusually high volume with small gains. BlueScope's same-day guidance upgrade, IMDEX's record quarter and Korvest's annual result each set out the latest figures.