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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 reported third quarter 2020 net sales of $2.3 billion and net income of $100 million, or $0.47 per diluted share, showing resilience amid COVID-19 challenges. Adjusted net income stood at $108 million, reflecting costs from the Sinton, Texas mill. Year-to-date net income decreased to $363 million, down from $550 million in 2019. Despite a 14% drop in sales, operating income from metals recycling improved to $15 million. The company maintains strong liquidity of $2.5 billion and anticipates continued demand recovery, especially in automotive and construction sectors.
Steel Dynamics (NASDAQ: STLD) plans to release its third quarter 2020 financial results post-market on October 19, 2020. The earnings call is set for October 20, 2020, at 10:00 a.m. EDT, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Investors can participate by calling +1.201.689.8040 or through a listen-only webcast on the company’s website. An audio replay will be available until October 25, 2020. This forthcoming announcement is crucial for stakeholders, as it will reveal the company's financial performance amid current market conditions.
Steel Dynamics has sold $350 million of 1.650% Notes due 2027 and $400 million of 3.250% Notes due 2050. Proceeds will be utilized to redeem $350 million of its 4.125% Senior Notes due 2025 and for general corporate purposes. The 2025 Notes redemption is set for November 8, 2020. The company's CFO emphasized this move strengthens their capital structure, following a successful investment-grade note offering since achieving investment-grade status in October 2019.
Steel Dynamics, Inc. (NASDAQ: STLD) plans to release its third quarter 2020 financial results on October 19, 2020, after market close. A teleconference will follow on October 20, 2020, at 10:00 a.m. EDT, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by calling +1.201.689.8040 or via the company's website. An audio replay will be available until October 25, 2020. Investors are encouraged to connect early to ensure participation.
Steel Dynamics (STLD) has announced its third quarter 2020 earnings guidance, estimating earnings between $0.42 to $0.46 per diluted share, with adjusted earnings projected at $0.46 to $0.50 per diluted share. Factors influencing these projections include $12 million in costs from the Sinton Texas Flat Roll Steel Mill, alongside a decline in earnings compared to $0.69 per diluted share in Q3 2019. Earnings from metals recycling are expected to be significantly better than the prior quarter, driven by increased scrap shipments.
Steel Dynamics, Inc. (STLD) has declared a quarterly cash dividend of $0.25 per common share. This dividend is set to benefit shareholders of record by September 30, 2020, and will be payable on or about October 16, 2020. As one of the largest steel producers and metals recyclers in the U.S., Steel Dynamics continues to produce various steel products and maintain a strong market position.
Steel Dynamics (NASDAQ: STLD) has completed the acquisition of Zimmer, S.A. de C.V., a Mexican metals recycling company, enhancing its raw material procurement strategy for its new Texas flat roll steel mill set to operate by mid-2021. The acquisition was funded with available cash and is intended to improve cost-effective ferrous scrap procurement, with Zimmer's facilities shipping approximately 500,000 gross tons of scrap annually, and a processing capacity of two million gross tons. This acquisition aims to bolster Steel Dynamics' metals recycling presence in Mexico.
Steel Dynamics, Inc. (NASDAQ/GS: STLD) announced it will release its second quarter 2020 financial results after market close on July 20, 2020. The company will host a teleconference on July 21, 2020, at 10:00 a.m. EDT, featuring Mark D. Millett, President and CEO, and Theresa E. Wagler, CFO. Interested participants can dial +1.201.689.8040 to join, or access a listen-only mode via the company's website. An audio replay of the call will be available until July 26, 2020.
Steel Dynamics, Inc. reported second quarter 2020 net sales of $2.1 billion and net income of $75 million, or $0.36 per diluted share. Adjusted net income was $100 million, or $0.47 per diluted share. Compared to the second quarter of 2019, sales decreased by 25% and earnings dropped 61%. Operating income was $159 million with an EBITDA of $217 million. The company's liquidity improved to $2.8 billion, and steel shipments were only 12% lower than record first quarter volumes. The impact of COVID-19 resulted in lower demand, particularly in the automotive sector.
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