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Steel Dynamics Inc - STLD STOCK NEWS

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. (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.

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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.

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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.

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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.

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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.

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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.

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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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Steel Dynamics has appointed Luis M. Sierra as an independent member of its Board of Directors, effective immediately, for a term ending in May 2022. Mr. Sierra, age 58, is currently the President and CEO of NOVA Chemicals, which reported $3.2 billion in revenues for 2020. His extensive background includes over 30 years at BP, including leadership roles in the Americas and global operations. This addition aims to enhance the Board's strategic direction and oversight capabilities.

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Steel Dynamics, Inc. (NASDAQ: STLD) has declared a quarterly cash dividend of $0.26 per common share. Shareholders of record by December 31, 2021 will receive this dividend, payable on or about January 14, 2022. As one of the largest domestic steel producers and metals recyclers in the U.S., Steel Dynamics operates numerous facilities across the country and Mexico, producing a variety of steel products and recycling metals.

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FAQ

What is the current stock price of Steel Dynamics (STLD)?

The current stock price of Steel Dynamics (STLD) is $130.5 as of October 31, 2024.

What is the market cap of Steel Dynamics (STLD)?

The market cap of Steel Dynamics (STLD) is approximately 20.1B.

What does Steel Dynamics Inc. do?

Steel Dynamics Inc. is a major producer of steel products, including hot roll, cold roll, and coated sheet steel, structural beams, rail, and more. The company also engages in metals recycling and steel fabrication.

When was Steel Dynamics Inc. founded?

Steel Dynamics Inc. was founded in 1993.

Where is Steel Dynamics Inc. headquartered?

Steel Dynamics Inc. is headquartered in Fort Wayne, Indiana.

What are the main segments of Steel Dynamics Inc.?

The main segments include Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and the Aluminum Operations Segment.

What recent projects has Steel Dynamics Inc. undertaken?

Recent projects include launching a new flat rolled steel mill in Texas and planning an aluminum flat rolled products mill, set to begin operations by mid-2025.

How did Steel Dynamics Inc. perform financially in 2023?

In 2023, Steel Dynamics reported net sales of $18.8 billion and a net income of $2.5 billion.

What is the outlook for Steel Dynamics Inc. in 2024?

The outlook for 2024 is positive, with expected increased demand driven by the construction, automotive, energy, and industrial sectors, along with the benefits from public infrastructure investments.

What sustainability initiatives is Steel Dynamics Inc. pursuing?

Steel Dynamics is focusing on biocarbon production and renewable energy agreements as part of its sustainability initiatives.

How does Steel Dynamics Inc. return value to its shareholders?

Steel Dynamics consistently returns value to shareholders through dividends and share repurchases, supported by strong cash flow generation.

Where can I find more information about Steel Dynamics Inc.’s financial results?

Detailed financial results and reports are available on the Investors section of the company's website at www.steeldynamics.com.

Steel Dynamics Inc

Nasdaq:STLD

STLD Rankings

STLD Stock Data

20.14B
154.30M
6.61%
86.48%
2.58%
Steel
Steel Works, Blast Furnaces & Rolling Mills (coke Ovens)
Link
United States of America
FORT WAYNE