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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), a leading U.S. steel producer, announced plans to release its Fourth Quarter and Full-Year 2022 financial results after market close on January 25, 2023. A teleconference with top executives, including Chairman and CEO Mark D. Millett, is scheduled for 10:00 a.m. Eastern Daylight Time on January 26, 2023. Participants can join by dialing +1.973.528.0011 or via the company’s website. An audio replay will be available through February 2, 2023. This event aims to provide insights into the company’s financial performance and strategies amidst a competitive market environment.
Steel Dynamics reported record 2022 performance, achieving net sales of $22.3 billion and net income of $3.9 billion, a significant increase from the previous year. The company also noted a cash flow from operations of $4.5 billion. Q4 2022 saw net sales of $4.8 billion with net income at $635 million. Steel shipments reached 12.2 million tons for the year. Despite a challenging pricing environment, the company maintained strong operational performance, particularly in its steel fabrication segment, which generated $2.4 billion in earnings. The outlook for 2023 remains positive with expectations for increased steel consumption and robust order backlogs.
Steel Dynamics, Inc. (STLD), a leading U.S. steel producer, will release its Fourth Quarter and Full-Year 2022 financial results on January 25, 2023, post-market. A teleconference, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler, is set for January 26, 2023, at 10:00 a.m. EDT. Interested parties can join by dialing +1.973.528.0011 or via the company website. An audio replay will be available until February 2, 2023.
Steel Dynamics, Inc. (STLD), a prominent U.S. steel producer, announced its inclusion in the S&P 500® Index, effective December 22, 2022. This recognition is a significant milestone for the company, reflecting its growth and performance in the steel industry. CEO Mark D. Millett expressed pride in the company's commitment to excellence and thanked stakeholders for their support. Steel Dynamics operates numerous facilities in the U.S. and Mexico, producing a variety of steel products and metals recycling capabilities, reinforcing its position as a key player in the domestic market.
Steel Dynamics (STLD) has released its fourth quarter 2022 earnings guidance, projecting earnings between $3.34 to $3.38 per diluted share. Adjusted earnings are expected to range from $4.10 to $4.14 per diluted share, considering a $24 million special compensation and $167 million costs for the Sinton Texas facility startup. Sequentially, earnings are anticipated to decline from $5.03 per share in Q3 2022, attributed to lower shipments and metal spread compression. However, steady demand in key sectors could strengthen future pricing.
Steel Dynamics, Inc. (NASDAQ: STLD) announced a new share repurchase program of up to $1.5 billion, building on the remaining $245 million from a previous $1.25 billion program. Since 2017, the company has repurchased $3.7 billion of its shares, equating to 33% of outstanding stock. Additionally, a quarterly cash dividend of $0.34 per common share has been declared, payable on or about January 13, 2023. This demonstrates management's commitment to shareholder value creation through consistent cash flow and strategic growth.
Steel Dynamics (STLD) has selected Columbus, Mississippi for its first biocarbon production facility in partnership with Aymium. This site is strategically located near one of STLD's major steel mills and fiber raw materials. The facility aims to reduce greenhouse gas emissions by 20-25% and will produce over 160,000 metric tons of biocarbon annually, with operations starting in early 2024. The initiative is expected to create 40 high-paying jobs and underscores the company's commitment to sustainability and carbon neutrality.
Steel Dynamics announced the selection of Columbus, Mississippi for its new recycled aluminum flat rolled mill. This $1.9 billion investment aims for an annual output of 650,000 tonnes and is expected to create 700 direct jobs and over 250 indirect jobs. The location offers logistical advantages such as proximity to rail and highways, a skilled workforce, and abundant renewable energy. Operations are projected to commence in mid-2025, enhancing Steel Dynamics' portfolio in the aluminum market and supporting sustainability through recycled materials.
Steel Dynamics plans to release its Third Quarter 2022 financial results after market close on October 19, 2022, with a teleconference scheduled for 11:30 a.m. Eastern Daylight Time on October 20, 2022. The call will feature CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by dialing +1.973.528.0011 or via the company's website. A replay of the call will be available until October 26, 2022.
Steel Dynamics reported a strong third quarter for 2022, achieving record steel shipments of 3.2 million tons and net sales of $5.7 billion, resulting in a net income of $914 million, or $5.03 per diluted share. Adjusted net income was $992 million, or $5.46 per diluted share. The company experienced a decline in operating income within its steel operations due to metal spread compression, despite excellent performance in steel fabrication, which recorded operating income of $677 million. Cash flow from operations reached a record $1.5 billion, bolstering investor confidence.
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