Steel Dynamics Inc Stock Price, News & Analysis

Steel Dynamics, Inc. (STLD) reported remarkable Q3 2021 results, achieving record net sales of $5.1 billion and net income of $991 million ($4.85/share). This marks substantial growth from Q3 2020, when net sales were $2.3 billion with net income of $100 million. Key highlights include record operating income of $1.3 billion, cash flow from operations of $631 million, and adjusted EBITDA of $1.4 billion. Strong demand and selling prices contributed to these results, particularly in the steel and steel fabrication segments. The company also repurchased $338 million of its common stock, representing 3% of outstanding shares.

Steel Dynamics announced a definitive agreement to acquire a minority equity interest in New Process Steel. This strategic move aims to enhance Steel Dynamics' exposure to value-added manufacturing opportunities. New Process is a key supplier, being Steel Dynamics' single largest flat roll steel customer. The acquisition is subject to customary closing conditions and regulatory approvals. This partnership is expected to accelerate New Process's growth in metals solutions and strengthen Steel Dynamics' supply chain capabilities.

Steel Dynamics, Inc. (NASDAQ/GS: STLD) is set to release its third quarter 2021 financial results after market close on October 18, 2021. A teleconference will follow on October 19, 2021, at 10:00 a.m. EDT, featuring executives Mark Millett and Theresa Wagler. Interested parties can join via phone or access the webcast on the company's website. An audio replay will be available post-event, with details provided for access.

Steel Dynamics (NASDAQ: STLD) announced third quarter 2021 earnings guidance of $4.78 to $4.82 per diluted share, indicating record performance. Adjusted earnings are anticipated to range from $4.88 to $4.92 per diluted share, excluding construction costs from its Texas mill. This compares to $3.32 for the second quarter and $0.47 from the previous year’s third quarter. Strong demand in steel operations is expected to contribute significantly to profitability, with ongoing robust performance in non-residential construction and metals recycling.

Steel Dynamics (NASDAQ: STLD) announced a quarterly cash dividend of $0.26 per share. This dividend is scheduled for payment to shareholders of record on September 30, 2021, with a payment date on or about October 15, 2021. As one of the largest domestic steel producers and metals recyclers in the U.S., the company operates multiple facilities across the country and in Mexico, producing a variety of steel products and recycling metals.

Steel Dynamics, Inc. (NASDAQ: STLD) will release its second quarter 2021 financial results post-market on July 19, 2021. A teleconference led by CEO Mark D. Millett and CFO Theresa E. Wagler is set for 10:00 a.m. EDT on July 20, 2021. Participants can join by dialing +1.201.689.8040 or via the company's website. An audio replay will be available until July 26, 2021. This call will address the company's earnings, which are critical for investors tracking STLD's performance in the steel production and recycling sector.

Steel Dynamics reported record second quarter 2021 results, including net sales of $4.5 billion and net income of $702 million. Operating income reached $956 million, driven by record steel shipments of 2.9 million tons and strong demand across sectors. Adjusted EBITDA exceeded $1 billion, with cash flow from operations of $587 million. The company announced a new $1 billion share repurchase authorization and set ambitious sustainability goals, including carbon neutrality by 2050. Investment in growth initiatives continues, particularly in the Texas mill.

Steel Dynamics (STLD) announced a commitment to achieve carbon neutrality by 2050 for its electric arc furnace operations. The company aims for a 20% reduction in Scope 1 and 2 greenhouse gas emissions intensity by 2025, increasing to 50% by 2030, using 2018 as a baseline. Additionally, Steel Dynamics plans to boost renewable energy usage to 10% by 2025 and 30% by 2030. The company has a longstanding focus on sustainability and is aligned with the Science Based Targets Initiative, aiming to lead in reducing its environmental footprint.

Steel Dynamics has authorized a new share repurchase program of up to $1.0 billion, effective immediately. This addition builds on the previous $500 million program, which had $51 million remaining as of June 30, 2021. The company has repurchased $1.6 billion of stock since 2016, representing 19% of outstanding shares, and has paid over $950 million in dividends. The decision reflects strong confidence in generating free cash flow and creating shareholder value through growth.