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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, 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.
Steel Dynamics (STLD) has announced its second quarter 2021 earnings guidance, estimating earnings between $3.26 and $3.30 per diluted share. Adjusted earnings, excluding construction costs from its Sinton Texas Flat Roll Steel Mill, are expected between $3.34 and $3.38, which would set a record for the company. This represents a significant increase from the $2.03 per diluted share reported in Q1 2021 and $0.36 in Q2 2020. Steel shipments are anticipated to rise, driven by strong demand in the automotive, construction, and industrial sectors.
Steel Dynamics, Inc. (NASDAQ/GS: STLD) has appointed Mark D. Millett, the company's President and CEO, as the new Chairman of the Board effective immediately. This transition follows the resignation of Keith E. Busse, a co-founder, from the Chairman role to facilitate board leadership changes. Busse remains a director after the 2021 Annual Meeting of Shareholders. Millett expressed gratitude towards Busse for his contributions, emphasizing a strategic vision for the company's growth in the steel and metals recycling sectors.
Steel Dynamics, Inc. (NASDAQ: STLD) has declared a quarterly cash dividend of $0.26 per common share. This dividend is payable to shareholders of record by June 30, 2021, with payment scheduled on or about July 16, 2021. As one of the largest steel producers and metals recyclers in the U.S., Steel Dynamics continues to strengthen its position in the market, producing a wide range of steel products and processing scrap metals.
Steel Dynamics reported record first quarter 2021 results with net sales of $3.5 billion and net income of $431 million, or $2.03 per diluted share. This marks an increase from $2.6 billion in sales and $187 million in net income from the same period last year. Operating income surged 130% sequentially to $594 million, driven by strong steel demand and an improved pricing environment. The company also maintained strong cash flow with $262 million from operations and announced a 4% increase in quarterly dividends. Steel shipments reached 2.8 million tons.
Steel Dynamics (NASDAQ: STLD) will release its first quarter 2021 financial results after market close on April 19, 2021. A teleconference led by President Mark D. Millett and CFO Theresa E. Wagler is scheduled for April 20, 2021, at 10:00 a.m. EDT. Participants can join by dialing +1.201.689.8040 or online at www.steeldynamics.com. An audio replay will be available until April 26, 2021, at 11:59 p.m. EDT. This event will provide insights into the company’s performance during the first quarter and future outlook.
Steel Dynamics (STLD) announced significant strategic growth plans in a recent update. The company will invest $225 million in two new flat roll steel coating lines in the Southern U.S., enhancing production at its Sinton Steel Mill, expected to commence in late summer 2021. Additionally, $175-$200 million will be allocated for two coating lines in the Midwest to diversify product offerings. The company aims to meet rising demand for coated flat roll steel, particularly in the metal building industry, mitigating reliance on imports.
Steel Dynamics, Inc. (NASDAQ: STLD) will release its first quarter 2021 financial results on April 19, 2021, after market close. The earnings teleconference is set for April 20, 2021, at 10:00 AM EDT, featuring CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by dialing +1.201.689.8040, or listen via the company's website. An audio replay will be available until April 26, 2021. Investors are encouraged to log in early for connection assurance.
Steel Dynamics (NASDAQ: STLD) announced first quarter 2021 earnings guidance of $1.88 to $1.92 per diluted share. Excluding construction costs for the Texas steel mill, adjusted earnings are expected between $1.94 and $1.98, potentially setting a record quarter. Fourth quarter 2020 earnings were $0.89 per diluted share. Increased profitability is driven by flat roll metal spread expansion and strong demand from automotive and construction sectors. Meanwhile, steel fabrication earnings may decline due to rising input costs, with April expected to be a low point.
Steel Dynamics (NASDAQ: STLD) announced key leadership promotions on March 16, 2021. Jordan Breiner was promoted to Vice President, overseeing the Butler Flat Roll Division, while William T. Scruggs is now Vice President and Commercial General Manager, managing a significant part of the company's Flat Roll Steel production, which is expected to increase to over 70% of total capacity with the new Sinton Texas Steel Mill. Jeff Hansen and Richard Poinsatte also received expanded roles, focusing on environmental sustainability and strategic business development, respectively, reflecting the company's commitment to growth and innovation.
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