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Steel Dynamics Inc. (NASDAQ: STLD), founded in 1993, stands out as a unique entity among American steel companies. Headquartered in Fort Wayne, Indiana, the company commenced production at its Butler, IN, flat roll mill in 1996, which remains a leader in flat roll steel production.
The company’s core operations encompass several segments:
- Steel Operations: Produces hot roll, cold roll, and coated sheet steel, structural beams, rail, engineered special-bar-quality steel, and more, with an annual production capacity of roughly 16 million tons.
- Metals Recycling Operations: Processes and sells ferrous and nonferrous scrap, playing a crucial role in the company’s scrap-based steel minimills.
- Steel Fabrication Operations: Includes New Millennium Building Systems, which produces joists, girders, and decking for nonresidential construction across six U.S. and Mexican facilities.
- Aluminum Operations Segment: A relatively new venture, aiming to diversify into the aluminum flat rolled products market by mid-2025.
Steel Dynamics has shown consistent growth through strategic investments and acquisitions. Recent achievements include record annual shipments in 2023 and the launch of a state-of-the-art electric arc furnace flat rolled steel mill in Texas. Additionally, the company is focusing on sustainability with biocarbon production and renewable energy agreements.
Financially, Steel Dynamics reported 2023 net sales of $18.8 billion and a net income of $2.5 billion. The company maintains strong liquidity with over $3.5 billion in cash flow from operations, supporting continued expansion and shareholder returns through dividends and share repurchases.
The outlook for 2024 remains positive, driven by robust demand from the construction, automotive, energy, and industrial sectors, coupled with the benefits of onshoring manufacturing and public infrastructure investments.
Steel Dynamics (STLD) reported its fourth quarter and annual 2024 results, achieving net sales of $17.5 billion, operating income of $1.9 billion, and net income of $1.5 billion. The company reached its second-highest steel shipments at 12.7 million tons and generated adjusted EBITDA of $2.5 billion with cash flow from operations of $1.8 billion.
Fourth quarter 2024 performance showed net sales of $3.9 billion and net income of $207 million ($1.36 per diluted share), down from Q3 2024's $318 million ($2.05 per share) and Q4 2023's $424 million ($2.61 per share). The company maintained strong liquidity of $2.2 billion and completed share repurchases worth $1.2 billion, representing 6% of outstanding shares.
Notable developments include the successful launch of four new value-added flat rolled steel coating lines in early 2024 and the first aluminum casting at their Columbus facility in January 2025. The company expects positive market dynamics in 2025, supported by stable steel pricing and steady customer demand.
Steel Dynamics (NASDAQ: STLD) has scheduled its Fourth Quarter and Full Year 2024 earnings release and conference call. The company will release financial results after market close on January 22, 2025, followed by a teleconference on January 23, 2025 at 11:00 a.m. Eastern Standard Time.
The call will be hosted by Chairman and CEO Mark D. Millett, CFO Theresa E. Wagler, and President and COO Barry Schneider. Participants can join via phone at +1.973.528.0016 or through the company's website. An audio replay will be available until January 30, 2025, accessible by dialing +1.919.882.2331 with conference ID 51844.
Steel Dynamics (STLD) has provided Q4 2024 earnings guidance of $1.26 to $1.30 per diluted share, significantly lower than Q3 2024's $2.05 and Q4 2023's $2.61. The decline is attributed to lower steel operations profitability due to reduced pricing, seasonal lower shipments, and an unplanned outage at Butler Flat Roll Division reducing volume by 50,000 tons.
While flat rolled steel prices have stabilized with steady seasonal demand, metals recycling operations are expected to outperform Q3. Steel fabrication operations anticipate lower earnings due to seasonal shipment decline and a <5% drop in pricing. The company has repurchased $250 million of common stock in Q4 through December 10, 2024, representing over 1% of shares.
Steel Dynamics (NASDAQ/GS: STLD) has been awarded a 2024 Thoroughbred Sustainability Partner Award by Norfolk Southern for its leadership in energy efficiency. The company was among 14 customers and suppliers recognized for their achievements in sustainability.
The selection process involved a cross-departmental team from Norfolk Southern reviewing applications based on measurable progress during 2023, evaluating programs' novelty, relevance, and impact. The awards specifically honor companies excelling in energy efficiency, innovation, and environmental stewardship.
Co-Founder, Chairman, and CEO Mark D. Millett highlighted the company's culture of promoting innovative solutions for increased efficiencies, reduced raw material usage, material conservation, and recycling initiatives.
Steel Dynamics (NASDAQ: STLD) has been awarded a 2024 Sustainability Partner Award by Union Pacific, recognizing their leadership in sustainability practices. The company was among 16 organizations honored at Union Pacific's annual Sustainability Partner Award Ceremony. The selection criteria included innovative business practices reducing environmental impact and effective stakeholder engagement.
Co-Founder, Chairman, and CEO Mark D. Millett attributed this recognition to the team's passion, dedication to excellence, and drive to create innovative product and supply-chain solutions while maintaining sustainability leadership in the steel industry.
Steel Dynamics (NASDAQ: STLD) has declared a quarterly cash dividend of $0.46 per common share for the fourth quarter of 2024. The dividend will be paid to shareholders of record as of December 31, 2024, with the payment scheduled for January 10, 2025.
Steel Dynamics (NASDAQ: STLD) has joined the EPA's Green Power Partnership, ranking #21 among Fortune 500® Green Power Partners and #33 on the National Top 100 List. In 2023, the company utilized 690 million kilowatt-hours of green power, meeting 10% of its steel mill operations' electricity needs and achieving its 2025 renewable energy goal.
The company signed the largest renewable product purchase agreement in North America's steel industry, covering approximately 15% of its steel mills' electricity usage. The wind energy center, operational since Q1 2024, marks a significant step toward their 2030 goal of 30% renewable electricity and will contribute to reducing Scope 2 greenhouse gas emissions intensity.
Steel Dynamics (NASDAQ/GS: STLD), a major North American steel producer and metals recycler, has announced its Third Quarter 2024 earnings conference call and webcast details. The company will release its financial results after market close on October 16, 2024. The teleconference is scheduled for 11:00 a.m. Eastern Daylight Time on October 17, 2024.
The call will be hosted by Mark D. Millett (Chairman and CEO), Theresa E. Wagler (Executive VP and CFO), and Barry Schneider (President and COO). Participants can dial +1.973.528.0011 and reference the Steel Dynamics Third Quarter 2024 Earnings Call. A webcast will also be available on the company's website. An audio replay will be accessible until October 24, 2024, by dialing +1.919.882.2331 with conference ID 51360.
Steel Dynamics (NASDAQ: STLD) reported third quarter 2024 financial results with net sales of $4.3 billion and net income of $318 million, or $2.05 per diluted share. The company achieved adjusted EBITDA of $557 million and cash flow from operations of $760 million. Key highlights include:
- Steel shipments of 3.2 million tons
- Strong liquidity of $3.1 billion
- Share repurchases of $310 million
Despite stable underlying steel demand, earnings declined sequentially due to lower average realized steel pricing. The company's steel operations reported operating income of $305 million, while steel fabrication operations achieved $166 million. Steel Dynamics maintains a positive outlook for 2025, expecting steel pricing recovery and benefits from ongoing investments in value-added products.
Steel Dynamics, Inc. (NASDAQ/GS: STLD) has announced certified, science-based greenhouse gas (GHG) emissions intensity targets for its steel mills. The company aims to achieve 0.12 metric tons of CO₂e per metric ton of hot rolled steel produced by 2050, aligning with the 1.5° C scenario of the Paris Agreement. An interim target of 0.80 metric tons of CO₂e per metric ton by 2030 has also been set, representing a 15% reduction from the 2022 base year.
These targets were established using the Global Steel Climate Council's (GSCC) Steel Climate Standard and have been verified by KERAMIDA and certified by the GSCC. Steel Dynamics is investing in a $260 million biocarbon production facility expected to decrease Scope 1 emissions by up to 35%. The company has also signed a significant renewable product purchase agreement and is committed to further reducing its carbon impact through various initiatives.
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