Company Overview - Steel Dynamics (STLD) is one of the largest and most efficient steel producers in the United States, utilizing electric arc furnace technology [1] - The company was founded in 1993 and has since grown into a vertically integrated steel producer [1] Industry Insights - The company operates in the steel production industry, which is characterized by its reliance on advanced technologies such as electric arc furnaces [1] - Steel Dynamics has established a strong position in the market, indicating potential for continued growth and efficiency improvements [1]

Core Viewpoint - Tree Island Steel reported a decline in revenues and profits for the first quarter of 2025, primarily due to reduced sales volumes and operational adjustments in response to market conditions [2][3]. Financial Performance - Revenues for the three months ended March 31, 2025, decreased by $6.4 million to $50.2 million from $56.6 million in the same period in 2024 [2]. - Gross profit fell to $3.9 million from $4.8 million year-over-year, attributed to lower sales and production volumes despite higher average selling prices [2]. - Adjusted EBITDA decreased to $2.0 million from $3.1 million in the same period in 2024 [2][5]. - Net income for the first quarter was $2, down from $625 in the same period in 2024, with net income per share remaining at $0.00 compared to $0.02 previously [4]. Operational Adjustments - The company reduced its workforce by 9% to manage operational costs in light of changing demand [2]. - The COO indicated that the company is rebalancing production and exploring new market opportunities to leverage operational capabilities [3]. Market Conditions - The decline in sales was primarily driven by lower demand from U.S. customers in the residential segment and the company's decision to withdraw from unprofitable product lines [2]. - A pullback in demand was noted due to U.S. tariffs on certain steel products made in Canada, impacting sales volumes [2]. Company Overview - Tree Island Steel, established in 1964, produces a variety of wire products for industrial, residential, commercial, and agricultural applications, with operations in Canada and the U.S. [6].

Company Overview - Companhia Siderúrgica Nacional (CSN) held its Q1 2025 earnings conference call on May 9, 2025, at 10:30 AM ET, featuring key executives including the CFO, ESG Director, and CEO [1][2]. Conference Call Structure - The conference call was structured to include a presentation followed by a Q&A session, with participants initially in listen-only mode [2]. Management Expectations - The management provided forward-looking statements regarding expectations and trends, emphasizing that actual results may differ due to various factors including economic conditions and regulatory changes [3].

NEW YORK, May 09, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Cleveland-Cliffs Inc. (“Cleveland-Cliffs” or the “Company”) (NYSE: CLF). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether Cleveland-Cliffs and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class actio ...

Core Insights - Cleveland-Cliffs reported a revenue of $4.63 billion for Q1 2025, marking an 11% decline year-over-year, with an EPS of -$0.92 compared to $0.18 a year ago [1] - The revenue slightly exceeded the Zacks Consensus Estimate of $4.6 billion, resulting in a surprise of +0.71%, while the EPS fell short of the consensus estimate of -$0.78 by -17.95% [1] Financial Performance Metrics - Total steel shipments were reported at 4,140 KTon, surpassing the average estimate of 4,064.01 KTon [4] - The average net selling price per net ton of steel products was $980, slightly below the estimated $985.85 [4] - Steelmaking revenues totaled $4.47 billion, exceeding the estimate of $4.43 billion but reflecting an 11.1% decline year-over-year [4] - Revenues from coated steel were $1.36 billion, compared to the estimate of $1.34 billion, showing a year-over-year decline of 16.1% [4] - Revenues from slab and other steel products were $247 million, below the estimate of $312.45 million, indicating a 26.3% year-over-year decline [4] - Revenues from cold-rolled steel were $591 million, exceeding the estimate of $555.93 million, with a year-over-year decline of 21.1% [4] - Revenues from hot-rolled steel were $1.17 billion, slightly below the estimate of $1.18 billion, reflecting a year-over-year increase of 3.4% [4] Stock Performance - Cleveland-Cliffs shares have returned +6.8% over the past month, compared to the Zacks S&P 500 composite's +11.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Investor Presentation May 2025 Forward-Looking Statements & Non-GAAP Financial Measures Forward-looking statements This presentation includes "forward-looking" statements within the meaning of the federal securities laws. You can generally identify the company's forward-looking statements by words such as "will," "anticipate," "aspire," "believe," "could," "estimate," "expect," "forecast," "outlook," "intend," "may," "plan," "possible," "potential," "predict," "project," "seek," "target," "should," "would," ...

Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA loss of $174 million for Q1 2025, reflecting the lagged impact of low steel prices and underperforming non-core assets [30][4] - Total shipments in Q1 were 4.14 million tons, consistent with guidance to exceed 4 million tons, aided by a full quarter contribution from Stelco [30] - Price realization for Q1 was $980 per net ton, a slight improvement from Q4's $970, but still weighed down by lower realizations in cold rolled products [30] Business Line Data and Key Metrics Changes - The automotive segment remains a high-margin business, with expectations of an annual EBITDA benefit of $250 million to $500 million starting in the second half of 2025 [10] - The company is idling several non-core assets, which is expected to lead to a $50 per ton year-over-year reduction in costs for 2025 [31][12] Market Data and Key Metrics Changes - In 2024, only 50% of cars sold in the U.S. were domestically produced, highlighting the need for reshoring automotive production [6] - The company is seeing a shift of automotive production back to the U.S., which is expected to benefit its steel supply business significantly [9][61] Company Strategy and Development Direction - The company is focused on returning to profitability and free cash flow generation by addressing three key issues: underperformance in automotive markets, loss-making operations, and a burdensome slab supply contract [5][19] - Strategic actions include idling non-core assets and optimizing the operating footprint to enhance cost competitiveness [11][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improved pricing and a more consistent business environment starting in April and May 2025 [4] - The company anticipates significant EBITDA improvement in the second half of 2025 and a reset higher in 2026 as various strategic initiatives take effect [31][38] Other Important Information - The company has reduced its 2025 capital expenditure guidance from $700 million to $625 million, primarily due to idling non-core assets [35][107] - The company maintains a healthy liquidity position with approximately $3 billion in available liquidity and $3.3 billion in secured capacity [36] Q&A Session Summary Question: Timing for achieving $300 million savings - Management indicated that the full impact of the $300 million savings will start to materialize in the second half of 2025, primarily from the Cleveland Dearborn switch [40][42] Question: Cost and ASP expectations for Q2 - Costs are expected to increase by about $5 per ton from Q1 to Q2, while ASP is projected to rise by approximately $40 per ton [62][63] Question: Impact of steel tariffs on Stelco - Management clarified that the tariffs do not change the strategic plan for Stelco, which is focused on serving the Canadian market [49][50] Question: Domestic auto production assumptions - Management expects an increase in domestic auto production, which will benefit the company significantly, regardless of overall car sales in North America [57][61] Question: Updates on asset sales - The company has received unsolicited inquiries for non-core assets, which could potentially bring several billion dollars in value [68][69] Question: CapEx and project updates - The company is lowering its CapEx guidance and expects significant reductions in future years, particularly related to strategic projects [107][108]

Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA loss of $174 million for Q1 2025, reflecting a challenging pricing environment and underperformance of non-core assets [30] - Total shipments in Q1 were 4.14 million tons, consistent with guidance to exceed 4 million tons, aided by a full quarter contribution from Stelco [30] - Price realization for Q1 was $980 per net ton, a slight improvement from Q4's $970, but still weighed down by lower realizations in cold rolled products [30] Business Line Data and Key Metrics Changes - The automotive sector remains a high-margin business for the company, with expectations of an annual EBITDA benefit of $250 million to $500 million starting in the second half of 2025 [10] - The company is idling several non-core assets, which is expected to generate annual savings of over $300 million [18] - The idling of loss-making operations is aimed at optimizing the operating footprint and improving profitability [11][12] Market Data and Key Metrics Changes - In 2024, only 50% of cars sold in the U.S. were domestically produced, highlighting the need for reshoring automotive production [6] - The company is seeing a shift of automotive production back to the U.S., with key customers increasing domestic manufacturing [9] - The domestic flat rolled prices have increased, while the company's realized prices under a Brazilian price-linked slab contract have declined, leading to negative margins [21] Company Strategy and Development Direction - The company is focused on returning to consistent profitability and free cash flow generation through operational changes and strategic initiatives [5] - The strategic repositioning of Stelco as a Canadian supplier is expected to provide more business opportunities for U.S. mills [24] - The company is actively engaging with automotive clients to secure longer-term steel supply contracts as they increase domestic production [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improved pricing and operational efficiencies in the second half of 2025, with expectations for a reset in financial results in 2026 [31] - The company is committed to reducing costs and optimizing operations to remain competitive in the U.S. steel market [11][36] - Management highlighted the importance of enforcing trade laws to protect against unfair competition from dumped steel imports [36] Other Important Information - The company has reduced its 2025 capital expenditure guidance from $700 million to $625 million, primarily due to idled assets and canceled projects [34] - The company maintains a healthy liquidity position with approximately $3 billion in available liquidity and $3.3 billion in secured capacity [35] - Management indicated that cash charges related to idling operations would be minimal, with expected non-cash accounting charges of around $300 million in Q2 [87] Q&A Session Summary Question: Timing for achieving $300 million savings - Management indicated that the full impact of the $300 million savings would start to materialize in the second half of 2025, primarily from the Cleveland Dearborn switch and other operational changes [42][43] Question: Impact of steel tariffs on Stelco - Management clarified that the acquisition of Stelco was planned to redirect sales to the Canadian market, and the Section 232 tariffs would not change their strategy [50][51] Question: Assumptions around domestic auto production increase - Management expressed confidence that the overall number of cars produced in the U.S. would increase, benefiting steel suppliers like the company [60] Question: Updates on asset sales and debt covenants - Management confirmed that unsolicited inquiries for non-core assets have been received, with potential sales bringing several billion dollars in value, which would be used for debt reduction [69][70] Question: CapEx and blast furnace reline updates - Management stated that CapEx guidance has been lowered and that blast furnace relines are planned for 2027, with ongoing reliance on blast furnaces for production [105][95]

Core Viewpoint - ArcelorMittal reported a first-quarter 2025 profit of $805 million, a decrease from $938 million in the same quarter last year, but earnings exceeded the Zacks Consensus Estimate of 71 cents per share [1] Financial Performance - Total sales for the quarter fell approximately 9.1% year over year to $14,798 million, surpassing the Zacks Consensus Estimate of $14,639.7 million [1] - Cash and cash equivalents at the end of the first quarter were $5,319 million, down around 2.1% year over year [4] - Long-term debt increased by 2.9% year over year to about $8,591 million [4] Segment Review - **NAFTA**: Sales decreased around 14% year over year to $2,877 million; crude steel production rose 3.4% to 2.3 million metric tons, while shipments fell 5.5% to 2.6 million metric tons [2] - **Brazil**: Sales fell approximately 13.2% year over year to $2,648 million; crude steel production increased roughly 0.4% to 3.6 million metric tons, and shipments decreased 0.7% to 3.2 million metric tons [2] - **Europe**: Sales decreased around 8% year over year to $7,218 million; crude steel production increased roughly 5% to 8 million metric tons, and shipments rose around 4% to 7.5 million metric tons [3] - **Mining**: Sales increased around 0.8% year over year to $735 million; iron ore production totaled 8.4 million metric tons, up about 29.2%, and iron ore shipments increased around 26.9% to 8 million metric tons [3] Outlook - The company plans capital expenditures for 2025 to range between $4.5 billion and $5 billion, with approximately $1.4 to $1.5 billion allocated to strategic growth initiatives and $0.3 to $0.4 billion for decarbonization projects [5] - The outlook for free cash flow remains favorable for 2025 and beyond, with expectations of enhanced long-term EBITDA and higher investable cash flow due to strategic growth projects [6] - A new long-term share buyback program has been launched, starting with an initial tranche of 10 million shares beginning on April 7, 2025 [6] Price Performance - Shares of ArcelorMittal have increased by 17.8% over the past year, contrasting with a 35.7% decline in the industry [7]

Company Overview - ArcelorMittal is the world's leading steel and mining company, operating in over 60 countries with a balanced portfolio of cost-competitive steel plants across both developed and developing markets [12] - The company is a leader in key sectors including automotive, household appliances, packaging, and construction [12] Investment Ratings - ArcelorMittal currently holds a Zacks Rank of 3 (Hold) and has a VGM Score of A, indicating a solid overall performance [12] - The company has a Value Style Score of A, supported by attractive valuation metrics such as a forward P/E ratio of 7.48, making it appealing to value investors [13] Earnings Estimates - In the last 60 days, four analysts have revised their earnings estimates higher for fiscal 2025, with the Zacks Consensus Estimate increasing by $0.27 to $4.02 per share [13] - ArcelorMittal has demonstrated an average earnings surprise of 9.6%, indicating a positive trend in earnings performance [13] Conclusion - With a strong Zacks Rank and top-tier Value and VGM Style Scores, ArcelorMittal is positioned as a noteworthy option for investors [13]