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Steel Dynamics, Inc. (STLD) is a leading U.S. steel producer and metals recycler, delivering innovative solutions across construction, automotive, and industrial sectors. This page aggregates official company announcements and third-party analyses, providing stakeholders with a centralized resource for tracking STLD's operational developments and market position.
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Steel Dynamics, Inc. (NASDAQ: STLD) posted strong first quarter 2023 results, reporting record steel shipments of 3.3 million tons and net sales of $4.9 billion with net income of $637 million, or $3.70 per diluted share. Adjusted net income, excluding startup costs from the new Sinton Texas Flat Roll Steel Mill, was $691 million, or $4.01 per diluted share. Operating income reached $835 million, bolstered by robust performance in steel and metals recycling sectors. The company also increased its quarterly cash dividend by 25%. Despite lower realized steel selling values and metal spread compression, demand from automotive, non-residential construction, and energy sectors remains strong. Cash flow from operations was impressive at $734 million, with ongoing investments in growth and shareholder returns. The outlook for 2023 suggests solid steel consumption and continued demand across several key markets.
Steel Dynamics (STLD), a leading U.S. steel producer and metals recycler, announced the upcoming release of its First Quarter 2023 financial results scheduled for April 19, 2023, post-market close. A teleconference will follow on April 20, 2023, at 10:00 a.m. EDT, hosted by Chairman and CEO Mark D. Millett and CFO Theresa E. Wagler. Interested participants can join by calling +1.973.528.0011 or by visiting the company's website. An audio replay will be available until April 26, 2023, accessible through the same phone number and via the website.
Steel Dynamics (NASDAQ: STLD) provided first quarter 2023 earnings guidance of $3.47 to $3.51 per diluted share, factoring in $78 million in startup costs for its Sinton Texas Flat Roll Steel Mill. Adjusted earnings are projected at $3.78 to $3.82, down from $5.71 in Q1 2022. Sequentially, Q4 2022 earnings were $3.61 and adjusted at $4.37. Steel operations expect improved profitability from increased shipments, although impacted by $64 million in higher-cost pig iron. Metals recycling is projected to be significantly higher, while fabrication operations may experience delays due to supply chain issues. Additionally, a 25% cash dividend increase was announced alongside a $295 million stock repurchase.
Steel Dynamics (STLD) has announced a cash dividend of $0.425 per common share for Q1 2023, marking a 25% increase from the previous year. Shareholders of record will receive this dividend on or about April 14, 2023, after the cut-off on March 31, 2023. This decision reflects the board's confidence in the company's strong cash generation capabilities and commitment to shareholder returns. The company emphasizes its robust cash dividend growth profile, aligning with ongoing growth initiatives and maintaining its investment-grade credit ratings.
Steel Dynamics (NASDAQ: STLD) has appointed Barry T. Schneider as President and Chief Operating Officer, effective March 1, 2023. Schneider, a 28-year veteran of the company, previously served as Senior Vice President of the Flat Roll Steel Group. In his new role, he will oversee the long products steel group, steel fabrication platform, and metals recycling platform. This appointment reflects Steel Dynamics' growth strategy and aims to enhance leadership talent. Schneider holds a degree in mechanical engineering and has been key in the company’s operational successes, including the construction of its first steel mill in Butler, Indiana.
Steel Dynamics, Inc. (NASDAQ: STLD), a leading U.S. steel producer, announced plans to release its Fourth Quarter and Full-Year 2022 financial results after market close on January 25, 2023. A teleconference with top executives, including Chairman and CEO Mark D. Millett, is scheduled for 10:00 a.m. Eastern Daylight Time on January 26, 2023. Participants can join by dialing +1.973.528.0011 or via the company’s website. An audio replay will be available through February 2, 2023. This event aims to provide insights into the company’s financial performance and strategies amidst a competitive market environment.
Steel Dynamics reported record 2022 performance, achieving net sales of $22.3 billion and net income of $3.9 billion, a significant increase from the previous year. The company also noted a cash flow from operations of $4.5 billion. Q4 2022 saw net sales of $4.8 billion with net income at $635 million. Steel shipments reached 12.2 million tons for the year. Despite a challenging pricing environment, the company maintained strong operational performance, particularly in its steel fabrication segment, which generated $2.4 billion in earnings. The outlook for 2023 remains positive with expectations for increased steel consumption and robust order backlogs.
Steel Dynamics, Inc. (STLD), a leading U.S. steel producer, will release its Fourth Quarter and Full-Year 2022 financial results on January 25, 2023, post-market. A teleconference, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler, is set for January 26, 2023, at 10:00 a.m. EDT. Interested parties can join by dialing +1.973.528.0011 or via the company website. An audio replay will be available until February 2, 2023.
Steel Dynamics, Inc. (STLD), a prominent U.S. steel producer, announced its inclusion in the S&P 500® Index, effective December 22, 2022. This recognition is a significant milestone for the company, reflecting its growth and performance in the steel industry. CEO Mark D. Millett expressed pride in the company's commitment to excellence and thanked stakeholders for their support. Steel Dynamics operates numerous facilities in the U.S. and Mexico, producing a variety of steel products and metals recycling capabilities, reinforcing its position as a key player in the domestic market.
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