Steel Dynamics Inc Stock Price, News & Analysis

Steel Dynamics reported strong fourth quarter and annual 2020 results, achieving nearly record steel shipments of 10.7 million tons and record steel fabrication shipments of 666,000 tons.

Net sales reached $9.6 billion with an operating income of $847 million, marking the company's fourth best year. Fourth quarter net income stood at $188 million, or $0.89 per diluted share. The firm maintained strong liquidity of over $2.5 billion and generated cash flow from operations of $987 million, despite a challenging economic environment due to the pandemic.

Steel Dynamics, Inc. (NASDAQ/GS: STLD) is set to release its fourth quarter and full-year 2020 financial results after market close on January 25, 2021. A teleconference will take place at 8:30 a.m. EDT on January 26, 2021, featuring CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by dialing +1.201.689.8040, or by accessing the webcast via the company's website. An audio replay will be available until January 31, 2021.

Steel Dynamics (NASDAQ: STLD) announced key leadership changes for its Southwest-Sinton Flat Roll Steel Division and Columbus Flat Roll Steel Division. Dennis Black will become General Manager of the Southwest-Sinton Flat Roll Division starting February 1, 2021, overseeing a new $1.9 billion, 3 million-ton steel mill in Texas. Madhu Ranade will transition to a role focusing on iron procurement, while Daniel Keown will take over as General Manager of Columbus on January 1, 2021. These appointments aim to bolster Steel Dynamics' commitment to safety and operational excellence.

Steel Dynamics, Inc. (STLD) has issued fourth quarter 2020 earnings guidance of $0.72 to $0.76 per diluted share, while adjusted earnings are projected to be between $0.80 and $0.84 per share. This includes additional costs from refinancing and construction activities. Compared to Q3 2020, earnings are expected to rise significantly due to improved flat roll metal spreads and steady steel shipments. However, the company anticipates asset impairment charges of $10 million to $15 million. Year-over-year, Q4 2020 earnings are expected to be lower than $0.56 per share seen in Q4 2019.

Steel Dynamics, Inc. (STLD) announced a quarterly cash dividend of $0.25 per common share. This dividend is set for shareholders on record by December 31, 2020 and will be paid on or about January 15, 2021. As one of the largest steel producers and metals recyclers in the U.S., Steel Dynamics operates various facilities, producing a range of steel products and processing scrap materials.

Steel Dynamics reported third quarter 2020 net sales of $2.3 billion and net income of $100 million, or $0.47 per diluted share, showing resilience amid COVID-19 challenges. Adjusted net income stood at $108 million, reflecting costs from the Sinton, Texas mill. Year-to-date net income decreased to $363 million, down from $550 million in 2019. Despite a 14% drop in sales, operating income from metals recycling improved to $15 million. The company maintains strong liquidity of $2.5 billion and anticipates continued demand recovery, especially in automotive and construction sectors.

Steel Dynamics (NASDAQ: STLD) plans to release its third quarter 2020 financial results post-market on October 19, 2020. The earnings call is set for October 20, 2020, at 10:00 a.m. EDT, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Investors can participate by calling +1.201.689.8040 or through a listen-only webcast on the company’s website. An audio replay will be available until October 25, 2020. This forthcoming announcement is crucial for stakeholders, as it will reveal the company's financial performance amid current market conditions.

Steel Dynamics has sold $350 million of 1.650% Notes due 2027 and $400 million of 3.250% Notes due 2050. Proceeds will be utilized to redeem $350 million of its 4.125% Senior Notes due 2025 and for general corporate purposes. The 2025 Notes redemption is set for November 8, 2020. The company's CFO emphasized this move strengthens their capital structure, following a successful investment-grade note offering since achieving investment-grade status in October 2019.

Steel Dynamics, Inc. (NASDAQ: STLD) plans to release its third quarter 2020 financial results on October 19, 2020, after market close. A teleconference will follow on October 20, 2020, at 10:00 a.m. EDT, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by calling +1.201.689.8040 or via the company's website. An audio replay will be available until October 25, 2020. Investors are encouraged to connect early to ensure participation.