Welcome to our dedicated page for Steel Dynamics news (Ticker: STLD), a resource for investors and traders seeking the latest updates and insights on Steel Dynamics stock.
Steel Dynamics, Inc. reports developments tied to its industrial metals platform, including steel production, metals recycling, downstream steel fabrication and aluminum operations. The company operates facilities in the United States and Mexico and uses recycled scrap as a primary input in its circular manufacturing model.
Recurring news themes for STLD include quarterly operating results, earnings guidance, cash dividends, share repurchases, capital investments and demand trends across non-residential construction, energy, automotive, industrial and beverage can markets. Company updates also cover governance matters, including board composition, and operational progress in aluminum flat rolled products alongside its established steel and recycling businesses.
Steel Dynamics has announced its second quarter 2024 earnings conference call and webcast. The financial results will be released after market close on July 17, 2024. The teleconference, hosted by key executives including CEO Mark D. Millett, will take place on July 18, 2024, at 11:00 a.m. EDT. Investors can join by dialing +1.973.528.0011 or via the company's website. An audio replay will be available until July 25, 2024, on the Steel Dynamics website.
Steel Dynamics (NASDAQ: STLD) announced the successful sale of $600 million in 5.375% Notes due 2034. The company plans to use the net proceeds for general corporate purposes, including the potential repayment of $400 million in 2.800% Senior Notes due December 2024. Theresa E. Wagler, Executive Vice President and CFO, highlighted the importance of this transaction in bolstering the company's long-term strategic goals, maintaining investment-grade credit ratings, and supporting future growth. The Notes offering was managed by J.P. Morgan Securities, Morgan Stanley, BofA Securities, Wells Fargo Securities, Goldman Sachs, and PNC Capital Markets.
Steel Dynamics (NASDAQ/GS: STLD) congratulates Mark D. Millett for receiving the 2024 Willy Korf / Ken Iverson Steel Vision Award. This award honors leaders who make significant contributions to the steel industry, promoting goodwill and integrity. Mark Millett, co-founder of Steel Dynamics since 1993, has driven innovation and growth in the steel industry. He has led the company from its inception to a leading industrial metals solutions company with over 12,000 team members. Millett has been the CEO since January 2012 and was named Chairman of the Board in May 2021.
Steel Dynamics (NASDAQ: STLD) has provided its earnings guidance for Q2 2024, projecting earnings per diluted share between $2.64 and $2.68. This is a decline from Q1 2024 earnings of $3.67 per share and Q2 2023 earnings of $4.81 per share. The company's steel operations are expected to see lower profitability due to decreased pricing, despite steady shipments. Metals recycling earnings are predicted to rise thanks to higher volumes. Steel fabrication earnings should remain consistent with Q1 2024, supported by increased shipments. Solid demand persists in the automotive, non-residential construction, energy, and industrial sectors. During Q2, Steel Dynamics repurchased $247 million in common stock, representing 1.1% of shares, demonstrating confidence in its financial outlook. The company will release its full Q2 2024 earnings report on July 17, 2024, followed by a conference call on July 18, 2024, at 11:00 a.m. EDT.
Steel Dynamics, Inc. declares a second quarter cash dividend of $0.46 per common share, payable to shareholders on record as of June 30, 2024. The dividend will be paid on or about July 12, 2024.
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