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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. (NASDAQ: STLD) announced its support for The Steel Climate Standard, a global standard developed by the Global Steel Climate Council (GSCC) aimed at measuring and reporting greenhouse gas (GHG) emissions in steel production. This standard seeks to create a framework for the steel industry to set science-based targets and reduce carbon emissions, with product certification criteria that align with the Paris Climate Agreement goals. Mark D. Millett, CEO, emphasized the importance of lower-carbon steel in achieving a sustainable global economy. The GSCC's standard will assess GHG emissions across all key categories. Comments on the standard are due by May 17, 2023.
Steel Dynamics, Inc. (NASDAQ-GS: STLD), a leading steel producer in the U.S., has announced its intent to release its First Quarter 2023 financial results after the market closes on April 19, 2023. The earnings call will be held on April 20, 2023, at 10:00 a.m. EDT, featuring Mark D. Millett and Theresa E. Wagler. Interested participants can join by calling +1.973.528.0011 or by accessing the webcast via the company's official website. An audio replay will be available until April 26, 2023. This upcoming earnings release is significant as it will reveal the company’s performance metrics for the first quarter, likely influencing investor sentiment and stock performance.
Steel Dynamics, Inc. (NASDAQ: STLD) posted strong first quarter 2023 results, reporting record steel shipments of 3.3 million tons and net sales of $4.9 billion with net income of $637 million, or $3.70 per diluted share. Adjusted net income, excluding startup costs from the new Sinton Texas Flat Roll Steel Mill, was $691 million, or $4.01 per diluted share. Operating income reached $835 million, bolstered by robust performance in steel and metals recycling sectors. The company also increased its quarterly cash dividend by 25%. Despite lower realized steel selling values and metal spread compression, demand from automotive, non-residential construction, and energy sectors remains strong. Cash flow from operations was impressive at $734 million, with ongoing investments in growth and shareholder returns. The outlook for 2023 suggests solid steel consumption and continued demand across several key markets.
Steel Dynamics (STLD), a leading U.S. steel producer and metals recycler, announced the upcoming release of its First Quarter 2023 financial results scheduled for April 19, 2023, post-market close. A teleconference will follow on April 20, 2023, at 10:00 a.m. EDT, hosted by Chairman and CEO Mark D. Millett and CFO Theresa E. Wagler. Interested participants can join by calling +1.973.528.0011 or by visiting the company's website. An audio replay will be available until April 26, 2023, accessible through the same phone number and via the website.
Steel Dynamics (NASDAQ: STLD) provided first quarter 2023 earnings guidance of $3.47 to $3.51 per diluted share, factoring in $78 million in startup costs for its Sinton Texas Flat Roll Steel Mill. Adjusted earnings are projected at $3.78 to $3.82, down from $5.71 in Q1 2022. Sequentially, Q4 2022 earnings were $3.61 and adjusted at $4.37. Steel operations expect improved profitability from increased shipments, although impacted by $64 million in higher-cost pig iron. Metals recycling is projected to be significantly higher, while fabrication operations may experience delays due to supply chain issues. Additionally, a 25% cash dividend increase was announced alongside a $295 million stock repurchase.
Steel Dynamics (STLD) has announced a cash dividend of $0.425 per common share for Q1 2023, marking a 25% increase from the previous year. Shareholders of record will receive this dividend on or about April 14, 2023, after the cut-off on March 31, 2023. This decision reflects the board's confidence in the company's strong cash generation capabilities and commitment to shareholder returns. The company emphasizes its robust cash dividend growth profile, aligning with ongoing growth initiatives and maintaining its investment-grade credit ratings.
Steel Dynamics (NASDAQ: STLD) has appointed Barry T. Schneider as President and Chief Operating Officer, effective March 1, 2023. Schneider, a 28-year veteran of the company, previously served as Senior Vice President of the Flat Roll Steel Group. In his new role, he will oversee the long products steel group, steel fabrication platform, and metals recycling platform. This appointment reflects Steel Dynamics' growth strategy and aims to enhance leadership talent. Schneider holds a degree in mechanical engineering and has been key in the company’s operational successes, including the construction of its first steel mill in Butler, Indiana.
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