Financial Performance - Q4 2024 net sales were 3.9billionwithnetincomeof207 million, or 1.36perdilutedshare,comparedtoQ32024netincomeof318 million and Q4 2023 net income of 424million[2]−Annual2024netsaleswere17.5 billion, operating income was 1.9billion,andnetincomewas1.5 billion, or 9.84perdilutedshare,comparedto2023netincomeof2.5 billion[10] - Net sales for Q4 2024 decreased to 3.87billion,down8.54.23 billion in Q4 2023[23] - Gross profit for Q4 2024 dropped to 441.7million,a39.6730.9 million in Q4 2023[23] - Net income for Q4 2024 fell to 209.9million,a50.8427.0 million in Q4 2023[23] - Basic earnings per share for Q4 2024 decreased to 1.36,a48.32.63 in Q4 2023[23] - Consolidated Net Sales for 2024 were 17,540,390,downfrom18,795,316 in 2023[29] - Adjusted EBITDA for 2024 was 2,493,758,adecreasefrom3,662,975 in 2023[29] Steel Operations - Annual 2024 steel shipments reached 12.7 million tons, with steel operations achieving operating income of 1.6billionandsteelfabricationoperationsachievingoperatingincomeof667 million[5] - Q4 2024 steel operations operating income was 165million,a462,645,994, a decrease from 2,915,325inQ42023[29]−OperatingIncomeforSteelinQ42024was164,989, compared to 364,829inQ42023[29]−AverageexternalsalespriceforSteelinQ42024was1,011 per ton, down from 1,090inQ42023[29]−FlatRollshipmentsin2024totaled7,702,731tons,upfrom7,459,023tonsin2023[29]−TotalShipmentsfor2024were12,660,487tons,slightlydownfrom12,821,753tonsin2023[29]−Ferrousshipmentsin2024were5,850,544grosstons,upfrom5,792,484grosstonsin2023[29]MetalsRecyclingOperations−Q42024metalsrecyclingoperationsoperatingincomewas23 million, a 13millionincreasefromQ32024,drivenbymetalspreadimprovementandcostefficiencies[8]−Nonferrousshipmentsin2024were965,491thousandpounds,comparedto970,445thousandpoundsin2023[29]SteelFabricationOperations−Q42024steelfabricationoperationsoperatingincomewas142 million, with a strong order backlog extending into H1 2025 at attractive pricing levels[9] - Steel Fabrication shipments in 2024 were 607,407 tons, down from 662,539 tons in 2023[29] Cash Flow and Investments - Annual 2024 cash flow from operations was 1.8billion,with1.9 billion invested in organic growth, 283millionindividends,and1.2 billion in share repurchases, representing 6% of outstanding shares[12] - Cash and equivalents decreased to 589.5millionattheendof2024,down57.91.40 billion at the end of 2023[25] - Net cash provided by operating activities for Q4 2024 was 346.9million,a59.9864.6 million in Q4 2023[27] - Purchases of property, plant and equipment totaled 1.87billionforthefullyear2024,a12.71.66 billion in 2023[27] - Dividends declared per share increased to 0.46inQ42024,up8.20.425 in Q4 2023[23] Future Outlook and Strategic Initiatives - The company expects increased demand in 2025 due to stabilized steel pricing, lower-carbon emission steel demand, and reduced unfairly traded steel imports, particularly for coated flat rolled steel[13] - Four new flat rolled steel coating lines began operations in H1 2024, with full run-rate earnings potential expected in 2025, contributing to over 65% of steel revenues from higher-margin products[14] - The aluminum team successfully cast the first industrial and beverage can ingots on January 12, 2025, with commercial production expected by mid-2025, targeting the sustainable beverage can and packaging industry[15] Balance Sheet and Liabilities - Total assets remained stable at 14.94billionattheendof2024,comparedto14.91 billion at the end of 2023[25] - Total current liabilities decreased to 2.15billionattheendof2024,down7.82.33 billion at the end of 2023[25]
Steel Dynamics(STLD)2025-01-23 14:56