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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) 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.
Steel Dynamics (STLD) has announced that it will release its Fourth Quarter and Full-Year 2021 financial results after market close on January 24, 2022. A teleconference will take place on January 25, 2022, at 10:00 a.m. Eastern Daylight Time, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. To participate, dial +1.973.528.0011 or access via the company's website. An audio replay will be available until January 30, 2022, at 11:59 p.m. Eastern Daylight Time. Further details can be found on Steel Dynamics' official site.
Steel Dynamics reported record financial results for 2021, with net sales of $18.4 billion and net income of $3.2 billion. Highlights include record shipments of 11.2 million tons and operating income of $4.3 billion. The fourth quarter saw net sales reach $5.3 billion and earnings per diluted share of $5.49. The company maintained strong liquidity of over $2.4 billion and executed a share repurchase program amounting to $1.1 billion.
Looking ahead, Steel Dynamics expects domestic steel demand to grow in 2022, driven by construction and automotive sectors.
Steel Dynamics, Inc. (NASDAQ: STLD), a leading U.S. steel producer, will release its Fourth Quarter and Full-Year 2021 financial results after market close on January 24, 2022. A teleconference hosted by CEO Mark D. Millett and CFO Theresa E. Wagler is scheduled for January 25, 2022, at 10:00 a.m. EDT. Participants can join via phone or listen online through the company's website. An audio replay will be available until January 30, 2022.
Steel Dynamics (STLD) announced a record fourth quarter 2021 earnings guidance of $5.46 to $5.50 per diluted share, with adjusted earnings projected between $5.69 and $5.73. This performance is notably higher than the $4.85 per diluted share in Q3 2021 and $0.89 in Q4 2020. Key factors include strong steel demand from sectors such as automotive and construction, and a substantial $320 million stock buyback. Expected increased profitability from steel operations is noted, although metals recycling earnings are anticipated to remain stable.
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