Nippon Steel lifts FY2024 profit outlook on strong U.S. Steel performance

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Nippon Steel's 32% upgrade to FY2024 net profit guidance, driven by stronger U.S. Steel earnings and post-acquisition operational improvements, signals better-than-expected demand and margin resilience in steel. The lift in its 2027 base business profit outlook for U.S. operations increases earnings visibility and supports a more constructive read-through for industrial cyclicals tied to U.S. steel pricing and efficiency gains.
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Nippon Steel (SUS) raised its FY2024 net profit forecast by 32% to ¥290 billion, citing robust earnings at its U.S. Steel unit (ONUS). The company said the improvement reflects stronger conditions in the U.S. steel market as well as post-acquisition gains in product quality and operating efficiency. Nippon Steel also upgraded its projection for ONUS's base business profit in FY2027, lifting the target from at least ¥100 billion to at least ¥180 billion. The group described the revisions as the result of already-realized operational improvements, supporting better earnings visibility for its core legacy assets, SUS and ONUS.