Sims upgrades FY26 earnings on improved non-ferrous market

The news: Metal recycler Sims has upgraded its FY26 underlying earnings before tax and interest (EBIT) to a range of $420 million to $435 million, up from the previous $350 million to $400 million forecast, citing continued strength across the non-ferrous metals market.

The context: The company stated that the updated outlook reflects improved trading conditions for non-ferrous metals, with its North American metal businesses expected to deliver a significant boost to second-half earnings.

Sims also projects the underlying EBIT for its Lifecycle Services to reach a target range of $170 million to $175 million for FY26, driven by structural growth trends in the global data centre ecosystem.