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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 (STLD) has completed the acquisition of ROCA ACERO S.A. de C.V., a scrap metals recycling business, following regulatory approvals. This acquisition enhances Steel Dynamics' position in the Southwest U.S. and Mexico, strengthening its raw material procurement and operational capabilities. ROCA operates five processing facilities with an annual shipping capacity of approximately 575,000 gross tons, further augmenting Steel Dynamics' total scrap processing capacity to over 2.5 million gross tons. The transaction aligns with Steel Dynamics' growth strategy in the metals processing sector.
Steel Dynamics, Inc. (NASDAQ: STLD), a leading U.S. steel producer and metals recycler, will release its Third Quarter 2022 financial results post-market on October 19, 2022. A teleconference hosted by Chairman Mark D. Millett and CFO Theresa E. Wagler is scheduled for 11:30 a.m. EDT on October 20, 2022. Participants can join by dialing +1.973.528.0011 or via the company’s website for a listen-only mode. An audio replay will be available until October 26, 2022. For more details, visit www.steeldynamics.com.
Steel Dynamics (NASDAQ: STLD) has successfully acquired ROCA ACERO, enhancing its raw material procurement strategy in North America. The acquisition, funded with available cash, positions Steel Dynamics to increase its scrap processing capacity in Mexico to over 2.5 million gross tons annually. ROCA, based in Monterrey, operates five scrap processing facilities and currently ships around 575,000 gross tons of scrap annually. This strategic move is expected to provide a competitive edge in steel operations and improve customer offerings in both Mexico and the United States.
Steel Dynamics, Inc. (STLD) announced third quarter 2022 earnings guidance of $4.93 to $4.97 per diluted share, with adjusted earnings projected between $5.33 and $5.37 per diluted share, excluding $0.40 per share related to the startup of the new Texas Flat Roll Steel Mill. Compared to second quarter earnings of $6.44 per share, the decline reflects lower flat rolled steel pricing. However, steel fabrication earnings are expected to rise due to strong demand in the non-residential construction sector.
Steel Dynamics declared a quarterly cash dividend of $0.34 per share, payable on or about October 14, 2022, to shareholders on record as of September 30, 2022. As one of the largest steel producers and metal recyclers in the U.S., it operates various facilities nationwide and in Mexico, producing a range of steel products including hot and cold rolled steel, structural beams, and specialty sections.
Steel Dynamics (STLD) will report its second quarter financial results on July 20, 2022, after market close. A teleconference is scheduled for July 21, 2022, at 9:00 a.m. EDT, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by dialing +1.973.528.0011 or accessing the call via the Steel Dynamics website. An audio replay will be available until July 27, 2022. This announcement highlights the company's ongoing commitment to transparency and investor engagement.
Steel Dynamics reported record second quarter 2022 results with net sales of $6.2 billion and net income of $1.2 billion ($6.44 per diluted share). The company achieved record shipments of 3.1 million tons and operating income of $1.6 billion. Cash flow from operations reached $1.0 billion, with adjusted EBITDA at $1.7 billion. The strong performance stemmed from diverse operations, despite lower earnings in the flat roll steel business. The company repurchased $517 million in common stock and maintains a strong liquidity of $2.5 billion.
Steel Dynamics (STLD) has authorized a $2.2 billion investment to build a 650,000-tonne low-carbon aluminum flat rolled mill in the Southeastern U.S. This facility, along with two satellite recycled aluminum slab centers costing $350 million, aims to address the significant aluminum supply deficit, projected at over 2 million tonnes in North America. The project is expected to generate $650-$700 million in annual EBITDA starting Q1 2025, while maintaining strong shareholder distributions and investment-grade credit ratings.
Steel Dynamics, a leading steel producer and metals recycler in the U.S., will release its Second Quarter 2022 financial results on July 20, 2022, after market close. A conference call to discuss the results is set for 9:00 a.m. EDT on July 21, 2022, hosted by Mark D. Millett and Theresa E. Wagler. Interested participants can join via phone or a live webcast on the company’s website. An audio replay will be available until July 27, 2022.
Steel Dynamics (STLD) has formed a strategic joint venture with Aymium, where it owns 55% and Aymium 45%. This partnership aims to build a biocarbon production facility to reduce greenhouse gas emissions in steelmaking, with a projected capital investment of $125-$150 million. The facility is expected to produce over 160,000 metric tons of biocarbon annually and commence operations in late 2023. The initiative supports Steel Dynamics' goal of carbon neutrality, potentially lowering its emissions intensity by 20-25%. CEO Mark D. Millett emphasized the importance of sustainability in this venture.
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