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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) celebrates Mark D. Millett's recognition as the 2022 Steelmaker of the Year by the Association for Iron & Steel Technology. This prestigious award honors his leadership in the steel industry, focusing on safety, customer service, and sustainable practices. Under Millett, Steel Dynamics has grown significantly since its founding in 1993 and champions electric arc furnace technology for its minimal environmental impact. With nearly 11,000 employees, the company has positioned itself as a leading steel producer and metals recycler in North America.
Steel Dynamics announced a definitive agreement to acquire ROCA ACERO, a Mexican scrap metals recycling firm, enhancing its North American raw material procurement strategy. ROCA operates four facilities with an annual shipping capacity of 575,000 tons and a processing capability of 850,000 tons. This acquisition aims to strengthen Steel Dynamics' competitive edge in the Southwest U.S. and Mexico, offering synergies with existing operations. The transaction will be funded with available cash and is subject to regulatory approvals.
Steel Dynamics, Inc. (NASDAQ: STLD) has declared a quarterly cash dividend of $0.34 per common share. This dividend is payable to shareholders of record on June 30, 2022, with payments expected around July 15, 2022. The company is one of the largest steel producers and metal recyclers in the U.S., operating many facilities across the country and in Mexico, and offers a wide range of steel products and services.
Steel Dynamics, Inc. (NASDAQ: STLD) will announce its First Quarter 2022 financial results after market close on April 20, 2022. A teleconference is scheduled for April 21, 2022, at 9:00 a.m. EDT, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by calling +1.973.528.0011 or via the company’s website in listen-only mode. An audio replay will be available after the call, accessible through +1.919.882.2331 and will stay on the website until April 27, 2022.
Steel Dynamics (STLD) reported record financial results for Q1 2022, showing significant growth across various metrics. Key highlights include:
- Record steel shipments of 2.9 million tons
- Net sales of $5.6 billion and net income of $1.1 billion ($5.71 per diluted share)
- Record operating income of $1.5 billion
- Adjusted EBITDA reached $1.6 billion
- Cash flow from operations at $819 million
- 31% increase in cash dividends and $389 million spent on share repurchases
The company anticipates continued robust demand, especially from the construction and energy sectors.
Steel Dynamics (NASDAQ: STLD) has announced the upcoming release of its First Quarter 2022 financial results on April 20, 2022, after market close. A teleconference will follow on April 21, 2022, at 9:00 a.m. Eastern Daylight Time, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Investors can participate by dialing +1.973.528.0011 or listening through the company’s website. An audio replay will be available after the call through April 27, 2022.
Steel Dynamics, Inc. (NASDAQ: STLD) announced the transition of Miguel Alvarez to lead its North American Metals Recycling platform, effective March 31, 2022. This follows the planned retirement of Russell B. Rinn, the current Executive Vice President of Metals Recycling, in July 2022. Rinn will continue as a consultant post-retirement. Additionally, James Anderson has been promoted to Senior Vice President for his contribution to the steel fabrication operations. CEO Mark D. Millett expressed confidence in the leadership transitions, highlighting opportunities for growth and sustainable value creation for the company and its stakeholders.
Steel Dynamics (STLD) announced first-quarter 2022 earnings guidance of $5.55 to $5.59 per diluted share, adjusting for $0.30 due to costs from the Sinton Texas Flat Roll Steel Mill startup. This indicates a potential growth from $5.49 in Q4 2021. Adjusted earnings are projected between $5.85 and $5.89 per diluted share. While steel operations performance is expected to be strong, earnings from flat roll steel are predicted to decline by over 10%. The company has also repurchased $362 million worth of stock and increased the dividend by 31%.
Steel Dynamics, Inc. (STLD) declared a $0.34 cash dividend for Q1 2022, up 31% from 2021, payable around April 15, 2022. Additionally, the board authorized a $1.25 billion share repurchase program, enhancing a previous $1 billion program. Since 2017, STLD has repurchased $2.6 billion in stock and paid over $950 million in dividends. Mark D. Millett, CEO, emphasized the company's strong cash generation capabilities and ongoing growth strategy, which includes $3.7 billion in capital investments and acquisitions.
Steel Dynamics, Inc. (NASDAQ: STLD) has completed the acquisition of a 45% minority equity interest in New Process Steel, a metals solutions and supply-chain management firm based in Houston, Texas. This investment aims to enhance Steel Dynamics' exposure to value-added manufacturing and broaden its customer service capabilities in the flat roll steel market. New Process, with operations in the U.S. and Mexico, will continue to be led independently by CEO Richard Fant. The acquisition reinforces Steel Dynamics' position as a leading steel producer, focusing on quality and innovative supply-chain solutions.
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