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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 has appointed Luis M. Sierra as an independent member of its Board of Directors, effective immediately, for a term ending in May 2022. Mr. Sierra, age 58, is currently the President and CEO of NOVA Chemicals, which reported $3.2 billion in revenues for 2020. His extensive background includes over 30 years at BP, including leadership roles in the Americas and global operations. This addition aims to enhance the Board's strategic direction and oversight capabilities.
Steel Dynamics, Inc. (NASDAQ: STLD) has declared a quarterly cash dividend of $0.26 per common share. Shareholders of record by December 31, 2021 will receive this dividend, payable on or about January 14, 2022. As one of the largest domestic steel producers and metals recyclers in the U.S., Steel Dynamics operates numerous facilities across the country and Mexico, producing a variety of steel products and recycling metals.
Steel Dynamics, Inc. (NASDAQ: STLD) announced it will release its third quarter 2021 financial results on October 18, 2021, post-market close. A teleconference will follow on October 19, 2021, at 10:00 a.m. EDT, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by dialing +1.973.528.0016 or online at the company's website. An audio replay will be available until October 25, 2021. This event is crucial for investors to assess STLD's performance and future outlook.
Steel Dynamics, Inc. (STLD) reported remarkable Q3 2021 results, achieving record net sales of $5.1 billion and net income of $991 million ($4.85/share). This marks substantial growth from Q3 2020, when net sales were $2.3 billion with net income of $100 million. Key highlights include record operating income of $1.3 billion, cash flow from operations of $631 million, and adjusted EBITDA of $1.4 billion. Strong demand and selling prices contributed to these results, particularly in the steel and steel fabrication segments. The company also repurchased $338 million of its common stock, representing 3% of outstanding shares.
Steel Dynamics announced a definitive agreement to acquire a minority equity interest in New Process Steel. This strategic move aims to enhance Steel Dynamics' exposure to value-added manufacturing opportunities. New Process is a key supplier, being Steel Dynamics' single largest flat roll steel customer. The acquisition is subject to customary closing conditions and regulatory approvals. This partnership is expected to accelerate New Process's growth in metals solutions and strengthen Steel Dynamics' supply chain capabilities.
Steel Dynamics, Inc. (NASDAQ/GS: STLD) is set to release its third quarter 2021 financial results after market close on October 18, 2021. A teleconference will follow on October 19, 2021, at 10:00 a.m. EDT, featuring executives Mark Millett and Theresa Wagler. Interested parties can join via phone or access the webcast on the company's website. An audio replay will be available post-event, with details provided for access.
Steel Dynamics (NASDAQ: STLD) announced third quarter 2021 earnings guidance of $4.78 to $4.82 per diluted share, indicating record performance. Adjusted earnings are anticipated to range from $4.88 to $4.92 per diluted share, excluding construction costs from its Texas mill. This compares to $3.32 for the second quarter and $0.47 from the previous year’s third quarter. Strong demand in steel operations is expected to contribute significantly to profitability, with ongoing robust performance in non-residential construction and metals recycling.
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