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Steel Dynamics(STLD) - 2024 Q1 - Quarterly Report
2024-05-10 16:15
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from _______ to _______ Commission File Number 0-21719 Steel Dynamics, Inc. (Exact name of registrant as specified in its charter) | Indiana | 35-1929476 | ...
Steel Dynamics(STLD) - 2024 Q1 - Earnings Call Presentation
2024-04-24 19:06
2022 24 April 2024 IInnvveessttoorr Call Presentation First Quarter 2024 Presentation HHeeaalltthh aanndd SSaaffeettyy EEnnttrreepprreenneeuurriiaall CCuultltuurree CCuussttoommeerr CCoommmmiittmmeenntt zz SSttrraatteeggiicc SGursotawitnhable Growth IInnnnoovvaattiioonn FFiinnaanncciiaall SStrterennggtthh Forward looking statements and Non-GAAP financial measures Forward-Looking Statements More specifically, refer to Steel Dynamics' more detailed explanation of these and other factors and risks that may ...
Steel Dynamics(STLD) - 2024 Q1 - Earnings Call Transcript
2024-04-24 19:00
Financial Data and Key Metrics Changes - The first quarter 2024 net income was $584 million, or $3.67 per diluted share, with adjusted EBITDA of $879 million [11] - Revenue for Q1 2024 was $4.7 billion, an 11% increase compared to the previous quarter, driven by strong volume and higher realized selling values [11] - Operating income for Q1 2024 was $751 million, a 45% increase from the previous quarter, attributed to steel metal spread expansion [11][12] Business Line Data and Key Metrics Changes - Steel shipments reached nearly a record 3.3 million tons in Q1 2024, with flat rolled operations generating strong operating income of $675 million [8][12] - Metals recycling operations reported operating income of $23 million, significantly higher than the previous quarter due to increased domestic steel demand [13] - The steel fabrication segment achieved operating income of $178 million, lower than the previous quarter due to weather impacts and lower shipments [13] Market Data and Key Metrics Changes - The domestic steel industry operated at an estimated production utilization rate of 77%, while the company's steel mills operated at 87% [22] - North American automotive production estimates for 2024 were revised higher to just over 16 million units, with continued growth expected in 2025 and 2026 [24] - Non-residential construction remains solid, supported by increased order activity and shipments in the structural and rail division [25] Company Strategy and Development Direction - The company is focused on transformational growth initiatives, including investments in aluminum flat rolled operations and a biocarbon facility [15][17] - A joint venture with Aymium aims to reduce greenhouse gas emissions by up to 35%, aligning with sustainability goals [17] - The company is leveraging its circular manufacturing model to enhance its steel and metals recycling operations [13][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding steel demand and pricing for 2024, supported by onshoring of manufacturing and public infrastructure spending [32] - The company anticipates continued improvements in production efficiency and capacity utilization at its Sinton facility [24][58] - Management highlighted a strong cash generation capability and a commitment to maintaining investment-grade credit metrics [16][31] Other Important Information - The company generated cash flow from operations of $355 million in Q1 2024, with strong liquidity of $3.1 billion at the end of the quarter [14] - Capital investments for 2024 are expected to be around $2 billion, with a focus on aluminum flat rolled investments [15] - The company repurchased $298 million of common stock, representing 1.5% of outstanding shares [15] Q&A Session Summary Question: Will conversion costs continue to decline with increased production at Sinton? - Management indicated that increased production at Sinton would help compress costs, but product mix also needs to be considered [35] Question: What is the timeline for the aluminum project to reach EBITDA breakeven? - Management expects to reach EBITDA breakeven by the end of the year, with operations starting mid-2025 [40] Question: How do you see the long product volumes performing in the coming quarters? - Management believes the first quarter's performance was affected by seasonality and weather, with expectations for improved volumes in the second quarter [53] Question: What is the outlook for pricing in the fabrication segment? - Management noted that pricing in the backlog and current spot pricing are converging, indicating stabilization [67] Question: How is the company addressing potential trade issues with Mexico? - Management stated that there has been no direct impact from trade issues, and they are monitoring the situation closely [73] Question: What is the expected cadence of CapEx for the remainder of the year? - Management expects the bulk of capital expenditures to occur in the second and third quarters as equipment arrives [82]
Steel Dynamics(STLD) - 2024 Q1 - Quarterly Results
2024-04-24 16:37
Exhibit 99.1 7575 W. Jefferson Blvd. Fort Wayne, IN 46804 Steel Dynamics Reports First Quarter 2024 Results FORT WAYNE, INDIANA, April 23, 2024 / PRNewswire / First Quarter 2024 Performance Highlights: Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced first quarter 2024 financial results. The company reported first quarter 2024 net sales of $4.7 billion and net income of $584 million, or $3.67 per diluted share. Comparatively, the company's sequential fourth quarter 2023 net income was $424 million, or ...
Steel Dynamics(STLD) - 2023 Q4 - Annual Report
2024-02-28 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-21719 Steel Dynamics, Inc. (Exact name of registrant as specified in its charter) Indiana 35-1929476 (State or other jurisdiction of incorporation or organization) ( ...
Steel Dynamics(STLD) - 2023 Q4 - Earnings Call Transcript
2024-01-24 20:01
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 - ...
Steel Dynamics(STLD) - 2023 Q3 - Quarterly Report
2023-11-08 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from _______ to _______ Commission File Number 0-21719 (Exact name of registrant as specified in its charter) | Indiana | 35-1929476 | | --- | --- | | ( ...
Steel Dynamics(STLD) - 2023 Q3 - Earnings Call Presentation
2023-10-19 20:00
2022 19 October 2023 IInnvveessttoorr Call Presentation Third Quarter 2023 Presentation HHeeaalltthh aanndd SSaaffeettyy EEnnttrreepprreenneeuurriiaall CCuultltuurree CCuussttoommeerr CCoommmmiittmmeenntt zz SSttrraatteeggiicc GGrroowwtthh IInnnnoovvaattiioonn FFiinnaanncciiaall SStrterennggtthh Forward looking statements and Non-GAAP financial measures Forward-Looking Statements More specifically, refer to Steel Dynamics' more detailed explanation of ...
Steel Dynamics(STLD) - 2023 Q3 - Earnings Call Transcript
2023-10-19 19:57
Steel Dynamics, Inc. (NASDAQ:STLD) Q3 2023 Earnings Conference Call October 19, 2023 11:00 AM ET Company Participants David Lipschitz - Director, Investor Relations Mark Millett - Co-founder, Chairman, and Chief Executive Officer Theresa Wagler - Executive Vice President and Chief Financial Officer Conference Call Participants Martin Englert - Seaport Research Partners Carlos de Alba - Morgan Stanley Tristan Gresser - Exane BNP Paribas Timna Tanners - Wolfe Research Bill Peterson - JP Morgan Operator Good d ...
Steel Dynamics(STLD) - 2023 Q2 - Quarterly Report
2023-08-07 16:00
Commission File Number 0-21719 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from _______ to _______ Steel Dynamics, Inc. (Exact name of registrant as specified in its charter) | Indiana | 35-1929476 | | ...