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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, 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.
Steel Dynamics (NASDAQ: STLD) announced a quarterly cash dividend of $0.26 per share. This dividend is scheduled for payment to shareholders of record on September 30, 2021, with a payment date on or about October 15, 2021. As one of the largest domestic steel producers and metals recyclers in the U.S., the company operates multiple facilities across the country and in Mexico, producing a variety of steel products and recycling metals.
Steel Dynamics, Inc. (NASDAQ: STLD) will release its second quarter 2021 financial results post-market on July 19, 2021. A teleconference led by CEO Mark D. Millett and CFO Theresa E. Wagler is set for 10:00 a.m. EDT on July 20, 2021. Participants can join by dialing +1.201.689.8040 or via the company's website. An audio replay will be available until July 26, 2021. This call will address the company's earnings, which are critical for investors tracking STLD's performance in the steel production and recycling sector.
Steel Dynamics reported record second quarter 2021 results, including net sales of $4.5 billion and net income of $702 million. Operating income reached $956 million, driven by record steel shipments of 2.9 million tons and strong demand across sectors. Adjusted EBITDA exceeded $1 billion, with cash flow from operations of $587 million. The company announced a new $1 billion share repurchase authorization and set ambitious sustainability goals, including carbon neutrality by 2050. Investment in growth initiatives continues, particularly in the Texas mill.
Steel Dynamics (STLD) announced a commitment to achieve carbon neutrality by 2050 for its electric arc furnace operations. The company aims for a 20% reduction in Scope 1 and 2 greenhouse gas emissions intensity by 2025, increasing to 50% by 2030, using 2018 as a baseline. Additionally, Steel Dynamics plans to boost renewable energy usage to 10% by 2025 and 30% by 2030. The company has a longstanding focus on sustainability and is aligned with the Science Based Targets Initiative, aiming to lead in reducing its environmental footprint.
Steel Dynamics has authorized a new share repurchase program of up to $1.0 billion, effective immediately. This addition builds on the previous $500 million program, which had $51 million remaining as of June 30, 2021. The company has repurchased $1.6 billion of stock since 2016, representing 19% of outstanding shares, and has paid over $950 million in dividends. The decision reflects strong confidence in generating free cash flow and creating shareholder value through growth.
Steel Dynamics, a major U.S. steel producer, will release its second quarter 2021 financial results after market close on July 19, 2021. A teleconference will take place at 10:00 a.m. EDT on July 20, 2021, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can dial +1.201.689.8040 or access the webcast via the company's website. An audio replay will be available until July 26, 2021.
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