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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.
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Steel Dynamics, Inc. (STLD) plans to release its Fourth Quarter and Full Year 2023 financial results on January 23, 2024, followed by a teleconference the next day. The teleconference will feature Chairman and CEO Mark D. Millett, Executive VP and CFO Theresa E. Wagler, and President and COO Barry Schneider. Participants can join the teleconference via phone or webcast and access an audio replay afterward.
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Steel Dynamics, Inc. (STLD) reported record steel shipments of 12.8 million tons and net sales of $18.8 billion in 2023. The company's annual operating income was $3.2 billion, with adjusted EBITDA of $3.7 billion and strong cash flow from operations of $3.5 billion. Despite a challenging pricing environment, the company maintained strong liquidity and achieved a strong after-tax return-on-invested-capital of 32 percent. However, the company's net income for the fourth quarter of 2023 saw a decline compared to prior periods. The annual 2023 net sales decreased by 16 percent, and operating income declined by 38 percent compared to 2022. The company also invested $1.7 billion in capital investments, paid cash dividends of $271 million, and repurchased $1.5 billion of its outstanding common stock. The outlook for 2024 is positive, with steady demand and new expansion initiatives in place.
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Steel Dynamics, Inc. (STLD) to Release Fourth Quarter and Full Year 2023 Financial Results
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Steel Dynamics, Inc. (STLD) provided fourth quarter 2023 earnings guidance in the range of $2.60 to $2.64 per diluted share. The company expects lower profitability from steel operations due to lower realized flat rolled steel pricing and metal spread contraction. However, steel order activity remains solid, and the company's metals recycling operations are expected to be comparable to sequential third quarter results. Steel fabrication operations are anticipated to be lower compared to sequential third results. The company has repurchased $1.4 billion of its common stock and paid cash dividends of $271 million during the year.
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OmniSource LLC, a subsidiary of Steel Dynamics, Inc. (NASDAQ: STLD), has acquired a 55-acre rail-served tract within Gulf Inland Logistics Park to expand its metals recycling operations along the Gulf Coast. The expansion is part of OmniSource's growth strategy, aiming to enhance its capacity to cater to customer demands and extend its footprint throughout the southern United States. The facility is expected to open in 2024 and will include rail and supporting services provided by Liberty Development Partners and CMC Railroad.
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Steel Dynamics, Inc. (NASDAQ/GS: STLD) has authorized an additional share repurchase program of $1.5 billion, bringing the total repurchase program to $3 billion. The company has repurchased $5.2 billion of its common stock since 2017, representing 36% of its outstanding shares. They have also declared a quarterly cash dividend of $0.425 per common share.
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Steel Dynamics, Inc. reports third quarter 2023 financial results with net sales of $4.6 billion and net income of $577 million.
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Steel Dynamics announces leadership promotions for Christopher Graham, Richard Poinsatte, Angela Reeve, Christopher Gionti, and Daniel Keown
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Steel Dynamics, Inc. announced its intention to release Third Quarter 2023 financial results on October 18, 2023. The earnings call will take place on October 19, 2023 at 11:00 a.m. EDT. Participants can access the call by dialing +1.973.528.0011 or visiting the company's website. An audio replay will be available until October 25, 2023.
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Steel Dynamics, Inc. provides Q3 2023 earnings guidance of $3.46 to $3.50 per diluted share, lower than previous quarters. Steel operations profitability expected to decrease due to lower steel pricing and higher scrap costs. Steel shipments expected to be comparable, excluding lost volume. Metals recycling and steel fabrication operations also expected to have lower earnings. Company has purchased $920 million of its common stock and paid $202 million in dividends to shareholders this year.
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FAQ
What is the current stock price of Steel Dynamics (STLD)?
The current stock price of Steel Dynamics (STLD) is $130.71 as of February 21, 2025.
What is the market cap of Steel Dynamics (STLD)?
The market cap of Steel Dynamics (STLD) is approximately 20.6B.
What does Steel Dynamics Inc. do?
Steel Dynamics Inc. is a major producer of steel products, including hot roll, cold roll, and coated sheet steel, structural beams, rail, and more. The company also engages in metals recycling and steel fabrication.
When was Steel Dynamics Inc. founded?
Steel Dynamics Inc. was founded in 1993.
Where is Steel Dynamics Inc. headquartered?
Steel Dynamics Inc. is headquartered in Fort Wayne, Indiana.
What are the main segments of Steel Dynamics Inc.?
The main segments include Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and the Aluminum Operations Segment.
What recent projects has Steel Dynamics Inc. undertaken?
Recent projects include launching a new flat rolled steel mill in Texas and planning an aluminum flat rolled products mill, set to begin operations by mid-2025.
How did Steel Dynamics Inc. perform financially in 2023?
In 2023, Steel Dynamics reported net sales of $18.8 billion and a net income of $2.5 billion.
What is the outlook for Steel Dynamics Inc. in 2024?
The outlook for 2024 is positive, with expected increased demand driven by the construction, automotive, energy, and industrial sectors, along with the benefits from public infrastructure investments.
What sustainability initiatives is Steel Dynamics Inc. pursuing?
Steel Dynamics is focusing on biocarbon production and renewable energy agreements as part of its sustainability initiatives.
How does Steel Dynamics Inc. return value to its shareholders?
Steel Dynamics consistently returns value to shareholders through dividends and share repurchases, supported by strong cash flow generation.
Where can I find more information about Steel Dynamics Inc.’s financial results?
Detailed financial results and reports are available on the Investors section of the company's website at www.steeldynamics.com.
Steel Dynamics Inc
Nasdaq:STLD
STLD Rankings
STLD Stock Data
20.56B
142.47M
6.63%
84.81%
2.47%
Steel
Steel Works, Blast Furnaces & Rolling Mills (coke Ovens)
United States
FORT WAYNE