Steel Dynamics Inc Stock Price, News & Analysis

Steel Dynamics (NASDAQ: STLD) has successfully acquired ROCA ACERO, enhancing its raw material procurement strategy in North America. The acquisition, funded with available cash, positions Steel Dynamics to increase its scrap processing capacity in Mexico to over 2.5 million gross tons annually. ROCA, based in Monterrey, operates five scrap processing facilities and currently ships around 575,000 gross tons of scrap annually. This strategic move is expected to provide a competitive edge in steel operations and improve customer offerings in both Mexico and the United States.

Steel Dynamics, Inc. (STLD) announced third quarter 2022 earnings guidance of $4.93 to $4.97 per diluted share, with adjusted earnings projected between $5.33 and $5.37 per diluted share, excluding $0.40 per share related to the startup of the new Texas Flat Roll Steel Mill. Compared to second quarter earnings of $6.44 per share, the decline reflects lower flat rolled steel pricing. However, steel fabrication earnings are expected to rise due to strong demand in the non-residential construction sector.

Steel Dynamics declared a quarterly cash dividend of $0.34 per share, payable on or about October 14, 2022, to shareholders on record as of September 30, 2022. As one of the largest steel producers and metal recyclers in the U.S., it operates various facilities nationwide and in Mexico, producing a range of steel products including hot and cold rolled steel, structural beams, and specialty sections.

Steel Dynamics (STLD) will report its second quarter financial results on July 20, 2022, after market close. A teleconference is scheduled for July 21, 2022, at 9:00 a.m. EDT, hosted by CEO Mark D. Millett and CFO Theresa E. Wagler. Participants can join by dialing +1.973.528.0011 or accessing the call via the Steel Dynamics website. An audio replay will be available until July 27, 2022. This announcement highlights the company's ongoing commitment to transparency and investor engagement.

Steel Dynamics reported record second quarter 2022 results with net sales of $6.2 billion and net income of $1.2 billion ($6.44 per diluted share). The company achieved record shipments of 3.1 million tons and operating income of $1.6 billion. Cash flow from operations reached $1.0 billion, with adjusted EBITDA at $1.7 billion. The strong performance stemmed from diverse operations, despite lower earnings in the flat roll steel business. The company repurchased $517 million in common stock and maintains a strong liquidity of $2.5 billion.

Steel Dynamics (STLD) has authorized a $2.2 billion investment to build a 650,000-tonne low-carbon aluminum flat rolled mill in the Southeastern U.S. This facility, along with two satellite recycled aluminum slab centers costing $350 million, aims to address the significant aluminum supply deficit, projected at over 2 million tonnes in North America. The project is expected to generate $650-$700 million in annual EBITDA starting Q1 2025, while maintaining strong shareholder distributions and investment-grade credit ratings.

Steel Dynamics, a leading steel producer and metals recycler in the U.S., will release its Second Quarter 2022 financial results on July 20, 2022, after market close. A conference call to discuss the results is set for 9:00 a.m. EDT on July 21, 2022, hosted by Mark D. Millett and Theresa E. Wagler. Interested participants can join via phone or a live webcast on the company’s website. An audio replay will be available until July 27, 2022.

Steel Dynamics (STLD) has formed a strategic joint venture with Aymium, where it owns 55% and Aymium 45%. This partnership aims to build a biocarbon production facility to reduce greenhouse gas emissions in steelmaking, with a projected capital investment of $125-$150 million. The facility is expected to produce over 160,000 metric tons of biocarbon annually and commence operations in late 2023. The initiative supports Steel Dynamics' goal of carbon neutrality, potentially lowering its emissions intensity by 20-25%. CEO Mark D. Millett emphasized the importance of sustainability in this venture.

Steel Dynamics (STLD) announced record earnings guidance for Q2 2022, projecting a range of $6.33 to $6.37 per diluted share. Adjusted earnings, excluding startup costs from its Sinton Texas Flat Roll Steel Mill, are expected between $6.61 and $6.65 per diluted share, up from Q1's $5.71 per share. Steel operations are projected to remain historically strong, although slightly lower than Q1 due to decreased pricing for flat roll steel. The company also reported strong performance in metals recycling and steel fabrication, alongside significant share repurchases totaling $397 million.