The most recent trading session ended with Steel Dynamics (STLD) standing at $127.01, reflecting a +1.79% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.04%. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.28%.Heading into today, shares of the steel producer and metals recycler had gained 7.66% over the past month, outpacing the Basic Materials sector's gain of 1.21% and the S&P 500's gain of 5.01% i ...

Core Viewpoint - Steel Dynamics reported a decline in Q4 2023 earnings per share and net sales, but exceeded sales estimates, indicating mixed performance in the latest earnings report [2][3]. Financial Performance - Q4 2023 earnings were $2.61 per share, down from $3.61 year-over-year, and slightly below the Zacks Consensus Estimate of $2.63 [2]. - Net sales decreased approximately 12.3% year-over-year to around $4.23 billion, surpassing the Zacks Consensus Estimate of $4.11 billion [2]. - Steel operations net sales were $2.91 billion, down about 0.8% year-over-year, with steel shipments of approximately 3.06 million tons, a modest increase from 2.99 million tons a year ago [3]. - The average external product selling price for steel was $1,090 per ton, down from $1,124 per ton year-over-year, but above the estimate of $1,001 per ton [3]. - Operating income for steel operations was $365 million, reflecting a 24% sequential decline due to lower shipments and metal spread compression [3]. Segment Highlights - Metal recycling operations reported net sales of $488 million, up around 5.3% year-over-year, with ferrous shipments stable at around 1.36 million gross tons [4]. - Steel fabrication operations saw sales of approximately $520.6 million, down 52.2% year-over-year, with shipments falling to 150,002 tons from 208,956 tons a year ago [4]. Financial Position - The company ended the quarter with cash and cash equivalents of about $1.4 billion, a decrease of around 14% year-over-year, while long-term debt was approximately $2.61 billion, down 13.3% [5]. - Steel Dynamics repurchased $1.5 billion of its common stock in 2023, representing 8% of its outstanding shares [5]. Outlook - The company is enhancing operations with a new electric arc furnace flat-rolled steel mill in Texas and has completed construction of four additional value-added flat rolled steel coating lines, expected to increase capacity by 1.1 million tons annually [6]. - Current market dynamics are anticipated to support higher demand across its operating platforms in 2024 [6]. - Estimates for the stock have trended upward, with a consensus estimate shift of 17.17%, indicating positive sentiment [7][8]. - Steel Dynamics holds a Zacks Rank 2 (Buy), suggesting expectations for above-average returns in the coming months [9].

Steel Dynamics, Inc. (NASDAQ:STLD) Q4 2023 Results Conference Call January 24, 2024 11:00 AM ET Company Participants David Lipschitz - Director of Investor Relations Mark Millett - President & Chief Executive Officer Theresa Wagler - Executive Vice President & Chief Financial Officer Barry Schneider - President & Chief Operating Officer Conference Call Participants Martin Englert - Seaport Research Tristan Gresser - BNP Paribas Carlos De Alba - Morgan Stanley Timna Tanners - Wolfe Research Curt Woodworth - ...

FORT WAYNE, Ind., Jan. 4, 2024 /PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS: STLD), one of the largest domestic steel producers and metals recyclers in North America, today announced it intends to release Fourth Quarter and Full Year 2023 financial results after market close on Tuesday, January 23, 2024. The teleconference is scheduled to begin at 11:00 a.m. Eastern Standard Time on Wednesday January 24, 2024 and will be hosted by Mark D. Millett, Chairman and Chief Executive Officer, Theresa E. Wagler, ...

Steel Dynamics, Inc. (STLD) logged fourth-quarter 2023 earnings of $2.61 per share, down from $3.61 in the year-ago quarter. It lagged the Zacks Consensus Estimate of $2.63.Net sales in the fourth quarter were down around 12.3% year over year to $4,233.4 million. It, however, surpassed the Zacks Consensus Estimate of $4,112.4 million.Segment HighlightsNet sales for steel operations were $2,915.3 million in the reported quarter, down around 0.8% year over year. STLD registered steel shipments of roughly 3.06 ...

Steel Dynamics (STLD) reported $4.23 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 12.3%. EPS of $2.61 for the same period compares to $4.37 a year ago.The reported revenue represents a surprise of +2.94% over the Zacks Consensus Estimate of $4.11 billion. With the consensus EPS estimate being $2.63, the EPS surprise was -0.76%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...

Investors are always looking for stocks that are poised to beat at earnings season and Steel Dynamics, Inc. (STLD) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Steel Dynamics is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a prett ...

FORT WAYNE, Ind., Jan. 4, 2024 /PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS: STLD), one of the largest domestic steel producers and metals recyclers in North America, today announced it intends to release Fourth Quarter and Full Year 2023 financial results after market close on Tuesday, January 23, 2024. The teleconference is scheduled to begin at 11:00 a.m. Eastern Standard Time on Wednesday January 24, 2024 and will be hosted by Mark D. Millett, Chairman and Chief Executive Officer, Theresa E. Wagler, ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are ...

Beginning the new year, the basic materials sector may be an area to scope out for opportunity in the stock market. Specifically, steel producers look attractive as they are critical to U.S. manufacturing with many steel-consuming industries having a resurgence upon easing inflation and higher demand.Notably, the Zacks Steel-Producers Industry is currently in the top 17% of over 250 Zacks industries and several companies in the space covet spots on the Zacks Rank #1 (Strong Buy) list. Here is a look at thre ...