Welcome to our dedicated page for Steel Dynamics news (Ticker: STLD), a resource for investors and traders seeking the latest updates and insights on Steel Dynamics stock.
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 (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.
Steel Dynamics congratulated Glenn A. Pushis on receiving the prestigious Honorary Member award from The American Institute of Mining, Metallurgical, and Petroleum Engineers (AIME) for his exceptional contributions to the steel industry. Mr. Pushis, Senior Vice President of Special Projects, has been pivotal in the construction of the Southwest-Sinton Flat Roll Steel Division. CEO Mark D. Millett praised his commitment to continuous improvement and innovation. AIME, established in 1871, recognizes professionals making significant impacts across engineering societies.
Steel Dynamics (STLD) has declared a cash dividend of $0.26 per common share for the first quarter of 2021, marking a 4% increase from 2020. Shareholders on record as of March 31, 2021, will receive payment on or about April 16, 2021. The announcement reflects the company's confidence in its cash flow generation and strong financial position. Steel Dynamics is one of the largest steel producers and recyclers in the U.S., committed to maintaining its investment-grade credit rating while strategically growing its operations.
Steel Dynamics, Inc. (NASDAQ: STLD), a leading steel producer and metals recycler in the U.S., is set to release its fourth quarter and full-year 2020 financial results on January 25, 2021, after market close. The earnings call is scheduled for 8:30 a.m. Eastern Daylight Time on January 26, 2021, featuring insights from President and CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join the call by dialing +1.201.689.8040 or accessing the webcast via the company's website.
Steel Dynamics reported strong fourth quarter and annual 2020 results, achieving nearly record steel shipments of 10.7 million tons and record steel fabrication shipments of 666,000 tons.
Net sales reached $9.6 billion with an operating income of $847 million, marking the company's fourth best year. Fourth quarter net income stood at $188 million, or $0.89 per diluted share. The firm maintained strong liquidity of over $2.5 billion and generated cash flow from operations of $987 million, despite a challenging economic environment due to the pandemic.
Steel Dynamics, Inc. (NASDAQ/GS: STLD) is set to release its fourth quarter and full-year 2020 financial results after market close on January 25, 2021. A teleconference will take place at 8:30 a.m. EDT on January 26, 2021, featuring CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by dialing +1.201.689.8040, or by accessing the webcast via the company's website. An audio replay will be available until January 31, 2021.
Steel Dynamics (NASDAQ: STLD) announced key leadership changes for its Southwest-Sinton Flat Roll Steel Division and Columbus Flat Roll Steel Division. Dennis Black will become General Manager of the Southwest-Sinton Flat Roll Division starting February 1, 2021, overseeing a new $1.9 billion, 3 million-ton steel mill in Texas. Madhu Ranade will transition to a role focusing on iron procurement, while Daniel Keown will take over as General Manager of Columbus on January 1, 2021. These appointments aim to bolster Steel Dynamics' commitment to safety and operational excellence.
Steel Dynamics, Inc. (STLD) has issued fourth quarter 2020 earnings guidance of $0.72 to $0.76 per diluted share, while adjusted earnings are projected to be between $0.80 and $0.84 per share. This includes additional costs from refinancing and construction activities. Compared to Q3 2020, earnings are expected to rise significantly due to improved flat roll metal spreads and steady steel shipments. However, the company anticipates asset impairment charges of $10 million to $15 million. Year-over-year, Q4 2020 earnings are expected to be lower than $0.56 per share seen in Q4 2019.
Steel Dynamics, Inc. (STLD) announced a quarterly cash dividend of $0.25 per common share. This dividend is set for shareholders on record by December 31, 2020 and will be paid on or about January 15, 2021. As one of the largest steel producers and metals recyclers in the U.S., Steel Dynamics operates various facilities, producing a range of steel products and processing scrap materials.
FAQ
What is the current stock price of Steel Dynamics (STLD)?
What is the market cap of Steel Dynamics (STLD)?
What does Steel Dynamics Inc. do?
When was Steel Dynamics Inc. founded?
Where is Steel Dynamics Inc. headquartered?
What are the main segments of Steel Dynamics Inc.?
What recent projects has Steel Dynamics Inc. undertaken?
How did Steel Dynamics Inc. perform financially in 2023?
What is the outlook for Steel Dynamics Inc. in 2024?
What sustainability initiatives is Steel Dynamics Inc. pursuing?
How does Steel Dynamics Inc. return value to its shareholders?
Where can I find more information about Steel Dynamics Inc.’s financial results?
