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) 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.
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.
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?
