Core Viewpoint - Cleveland-Cliffs (CLF) is expected to report a quarterly loss of $0.67 per share, reflecting a significant year-over-year decline of 472.2%, with anticipated revenues of $4.6 billion, down 11.6% from the previous year [1]. Earnings Projections - Over the last 30 days, the consensus EPS estimate has been revised downward by 59.1%, indicating a significant reassessment by analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts estimate 'Revenues- Other Businesses' will reach $164.80 million, representing a year-over-year decline of 4.2% [5]. - 'Revenues- Steelmaking' is projected to be $4.43 billion, indicating an 11.9% decrease from the same quarter last year [5]. - The average prediction for 'Revenues- Steelmaking- Coated steel' is $1.34 billion, reflecting a 17.4% year-over-year decline [5]. - 'Revenues- Steelmaking- Slab and other steel products' is estimated at $312.45 million, down 6.7% from the prior year [6]. Sales Volumes - Analysts predict 'External Sales Volumes- Steel Products' will reach 4,064.01 tons, compared to 3,940 tons in the same quarter last year [6]. - The 'Average net selling price per net ton of steel products' is expected to be $985.85, down from $1,175 in the same quarter last year [7]. - 'Volumes - Steelmaking - Coated steel' is projected at 1,084.44 tons, compared to 1,216 tons in the previous year [7]. - 'Volumes - Steelmaking - Slab and other steel products' is expected to be 422.79 tons, down from 449 tons year-over-year [8]. - 'Volumes - Steelmaking - Plate' is projected at 201.33 tons, slightly up from 201 tons in the previous year [8]. - 'Volumes - Steelmaking - Cold-rolled steel' is expected to be 541.11 tons, down from 663 tons in the same quarter last year [9]. - 'Volumes - Steelmaking - Hot-rolled steel' is forecasted to reach 1,651.52 tons, compared to 1,266 tons in the same quarter last year [9]. - 'Volumes - Steelmaking - Stainless and electrical steel' is estimated at 151.36 tons, slightly up from 145 tons in the previous year [10]. Stock Performance - Over the past month, shares of Cleveland-Cliffs have returned +27.6%, outperforming the Zacks S&P 500 composite's +0.4% change [10]. - Currently, CLF holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [11].

钢铁周报 20250504 粗钢限产预期再起，钢厂利润有望回升 2025 年 05 月 04 日 ➢ 价格：本周钢材价格涨跌互现。截至 4 月 30 日，上海 20mm HRB400 材 质螺纹价格为 3200 元/吨，较上周持平。高线 8.0mm 价格为 3420 元/吨，较上 周升 10 元/吨。热轧 3.0mm 价格为 3260 元/吨，较上周持平。冷轧 1.0mm 价 格为 3670 元/吨，较上周降 40 元/吨。普中板 20mm 价格为 3510 元/吨，较上 周升 20 元/吨。本周原材料中，国产矿市场价格震荡，进口矿市场价格稳中有跌， 废钢价格上涨。 ➢ 利润：本周钢材利润上升。长流程方面，我们测算本周行业螺纹钢、热轧和 冷轧毛利分别环比前一周变化+53 元/吨，+20 元/吨和-54 元/吨。短流程方面， 本周电炉钢毛利环比前一周变化+35 元/吨。 ➢ 风险提示：下游需求不及预期；钢价大幅下跌；原材料价格大幅波动。 重点公司盈利预测、估值与评级 | 代码 | 简称 | 股价 | | EPS（元） | | | PE（倍） | | 评级 | | --- | --- | --- | --- | ...

Financial Data and Key Metrics Changes - The company reported first quarter sales of $493 million with a net income of $2.5 million, a decrease from $8.7 million in the same period last year [7][17] - EBITDA for the first quarter was $16.1 million compared to $23.3 million in the prior year [17] - Operating expenses increased to $110.6 million from $103.2 million year-over-year, influenced by the acquisition of Metalworks [18][19] - The effective tax rate for the first quarter was 30.1%, up from 27% in the same period last year [20] Business Segment Data and Key Metrics Changes - The Carbon segment reported EBITDA of $10.9 million, driven by increased shipping volumes and growth in coated carbon steel products [13] - The Pipe and Tube segment delivered EBITDA of $6.4 million, experiencing slower OEM orders but maintaining positive results [14] - The Specialty Metals segment reported EBITDA of $3.6 million, with ongoing investments in growth and expansion [15] Market Data and Key Metrics Changes - Flat roll shipping volumes increased by 24% sequentially and 6% year-over-year, reaching the highest levels since Q3 2021 [7][12] - Hot roll pricing escalated by more than 30% during the quarter due to the announced tariffs [12] Company Strategy and Development Direction - The company is focused on building a stronger, more resilient Olympic Steel, diversifying into metal-intensive end markets, and expanding fabrication capabilities [7][8] - The recent acquisition of Metalworks is expected to bolster growth and has already proven accretive to results [8] - The company remains committed to M&A as a source of growth, having completed eight acquisitions over the past seven years [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive profitable growth regardless of market conditions [11] - The company is well-positioned to support increased manufacturing in the U.S., with over 90% of metal supply and nearly all sales domestically based [10] - Management noted that tariffs have dominated the macroeconomic conversation but believe they can navigate these challenges effectively [10] Other Important Information - The company announced a five-year extension of its $625 million asset-based revolving credit facility, providing flexible capital for growth [10][19] - Capital expenditures for the first quarter totaled $8.8 million, with an estimated $35 million for the full year [19] Q&A Session Summary Question: How much of the first quarter volume boost is due to pull forward demand? - Management indicated that a significant portion of the increase was due to stronger spot sales, with traditional sales being 65% contract and 35% spot [26][27] Question: What is the outlook for the Pipe and Tube segment? - Management expects a more traditional year for Pipe and Tube, with opportunities in onshoring and data centers driving growth [40] Question: What is the current appetite for M&A? - Management confirmed that M&A remains a key part of the growth strategy, with a return of potential sellers noted in April [30][31] Question: How are operating expenses being managed? - The increase in operating expenses was attributed to the acquisition of Metalworks and higher shipping volumes, but inflation-adjusted expenses are being managed well [52][53] Question: Will tariffs increase competition for acquisitions? - Management believes that tariffs may lead to increased competition for acquisitions as companies look to grow through M&A rather than capital expenditures [57]

Financial Data and Key Metrics Changes - The company reported first quarter sales of $493 million with net income of $2.5 million, a decrease from $8.7 million in the same period last year [6][16] - EBITDA for the first quarter was $16.1 million compared to $23.3 million in the prior year [16] - Consolidated operating expenses totaled $110.6 million, up from $103.2 million year-over-year [17] - The effective tax rate for the first quarter was 30.1%, compared to 27% in the same period last year [19] Business Segment Data and Key Metrics Changes - Flat roll shipping volumes increased by 24% sequentially and 6% year-over-year, reaching the highest levels since Q3 2021 [6][11] - The Carbon segment reported EBITDA of $10.9 million, driven by increased shipping levels and growth in coated carbon steel products [12] - The Pipe and Tube segment delivered EBITDA of $6.4 million, although it experienced slower OEM orders [13] - The Specialty Metals segment reported EBITDA of $3.6 million, with continued investments in growth and expansion [14] Market Data and Key Metrics Changes - Hot roll pricing increased by more than 30% during the quarter following the announcement of 25% tariffs on steel and aluminum imports [11] - Over 90% of the company's metal supply and nearly all sales are domestically based, positioning the company well in the current tariff environment [9] Company Strategy and Development Direction - The company is focused on building a stronger, more resilient Olympic Steel, diversifying into metal-intensive end markets, and expanding fabrication capabilities [6][7] - The recent acquisition of Metalworks is expected to bolster growth and has already proven accretive to results [7] - The company remains committed to M&A as a source of growth, having completed eight acquisitions over the past seven years [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive profitable growth regardless of market conditions [10] - The company is well-positioned to support increased manufacturing in the U.S. and is prepared for potential onshoring opportunities [9][40] - Management noted that while tariffs have impacted the macroeconomic environment, they do not foresee a direct impact on their M&A strategy [53] Other Important Information - The company announced a five-year extension of its $625 million asset-based revolving credit facility, providing flexible, low-cost capital for growth [9][18] - Capital expenditures for the first quarter totaled $8.8 million, with an estimated $35 million for the full year [18] Q&A Session Summary Question: How much of the first quarter volume boost is due to pull forward demand? - Management indicated that a significant portion of the increase was due to stronger spot sales, with traditional sales being 65% contract and 35% spot [25][26] Question: What is the outlook for the Pipe and Tube segment? - Management noted that the Pipe and Tube segment did not see the same sales increase as the Carbon segment and is expected to follow a more traditional year [27][40] Question: What is the current appetite for M&A? - Management confirmed that M&A remains a key part of their growth strategy, with a return of potential sellers observed in April [29][30] Question: How are operating expenses being managed? - Management attributed the increase in operating expenses to the acquisition of Metalworks and higher shipping volumes, while maintaining that inflation-adjusted expenses are being managed well [51][52] Question: How are tariffs affecting the M&A strategy? - Management stated that tariffs have a greater impact on the core business rather than directly affecting M&A, and they continue to seek domestic acquisition opportunities [53][54]

Financial Data and Key Metrics Changes - The company reported first quarter sales of $493 million with net income of $2.5 million, a decrease from $8.7 million in the same period last year [6][18] - EBITDA for the first quarter was $16.1 million compared to $23.3 million in the prior year [18] - Consolidated operating expenses increased to $110.6 million from $103.2 million year-over-year, influenced by the acquisition of Metalworks [19][21] - The effective tax rate for the first quarter was 30.1%, up from 27% in the same period last year [21] Business Segment Data and Key Metrics Changes - The Carbon segment reported EBITDA of $10.9 million, driven by increased shipping volumes and growth in coated carbon steel products [13] - The Pipe and Tube segment delivered EBITDA of $6.4 million, although it experienced slower OEM orders [14] - The Specialty Metals segment reported EBITDA of $3.6 million, with ongoing investments in growth and expansion [14] Market Data and Key Metrics Changes - Hot roll pricing increased by more than 30% during the quarter due to the announced 25% tariffs on steel and aluminum [12] - The company noted that over 90% of its metal supply and nearly all sales are domestically based, positioning it well in the current tariff environment [10] Company Strategy and Development Direction - The company is focused on building a stronger, more resilient Olympic Steel, emphasizing profitable growth through diversification into metal-intensive end markets and expanding fabrication capabilities [6][7] - The commitment to mergers and acquisitions (M&A) remains a key growth strategy, with the recent acquisition of Metalworks proving immediately accretive [7][8] - Ongoing capital investments are planned to enhance throughput and safety, with several new facilities and equipment upgrades expected to come online in the near future [15][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive profitable growth regardless of market conditions, citing strong operational discipline and effective working capital management [10][11] - The management team highlighted the importance of onshoring opportunities and the potential for growth in the pipe and tube market, particularly in data centers [40] Other Important Information - The company announced a five-year extension of its $625 million asset-based revolving credit facility, providing flexible capital for growth initiatives [10][20] - A quarterly dividend of $0.16 per share was declared, continuing a history of regular dividends since February 2006 [21] Q&A Session Summary Question: How much of the first quarter volume boost is due to pull forward demand? - Management indicated that a significant portion of the volume increase was due to stronger spot sales, with traditional sales being 65% contract and 35% spot [26][28] Question: Expectations for the Pipe and Tube segment's performance? - The Pipe and Tube segment did not see the same sales increase as the Carbon segment, primarily due to its more contractual nature [29][30] Question: Current appetite for M&A and marketplace conditions? - Management confirmed that M&A remains a key growth strategy, with a return of potential sellers observed in April [31][32] Question: Outlook for the Pipe and Tube segment beyond Q2? - Management expects a more traditional year for the Pipe and Tube segment, with growth opportunities in onshoring [40] Question: Thoughts on working capital and inventory management? - The company successfully reduced debt by $37 million in Q1 and expects modest decreases in the following quarters [43][45] Question: Impact of tariffs on M&A strategy? - Management stated that tariffs have not directly impacted M&A strategy, as all acquisitions have been domestic [53][56]

United States Steel Corporation (X) logged a loss of $116 million or 52 cents for first-quarter 2025. This compares unfavorably with a profit of $171 million or 68 cents per share in the year-ago quarter.Barring one-time items, the adjusted loss per share was 39 cents against earnings of 82 cents a year ago. The figure was narrower than the Zacks Consensus Estimate of a loss of 48 cents.Revenues fell around 10.4% year over year to $3,727 million in the reported quarter but beat the Zacks Consensus Estimate ...

For the quarter ended March 2025, United States Steel (X) reported revenue of $3.73 billion, down 10.4% over the same period last year. EPS came in at -$0.39, compared to $0.82 in the year-ago quarter.The reported revenue represents a surprise of +2.91% over the Zacks Consensus Estimate of $3.62 billion. With the consensus EPS estimate being -$0.48, the EPS surprise was +18.75%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...

Company Overview - Tree Island Steel Ltd. is headquartered in Richmond, British Columbia, and has been operational since 1964 [2] - The company produces wire products for various applications including industrial, residential construction, commercial construction, and agricultural uses [2] - Product offerings include galvanized wire, bright wire, fasteners (packaged, collated, and bulk nails), stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products [2] - The company markets its products under several brand names including Tree Island®, Halsteel®, K-Lath®, TI Wire®, Tough Strand®, and ToughPanel™ [2] Financial Reporting - Tree Island Steel will report its first quarter 2025 financial results for the period ended March 31, 2025, after market hours on May 9, 2025 [1]

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Core Insights - Grupo Simec reported a decrease in net sales and net income for the first quarter of 2025 compared to the same period in 2024, primarily due to lower sales prices and shipment volumes [2][13]. Financial Performance - **Net Sales**: Decreased from Ps. 7,885 million in Q1 2024 to Ps. 7,783 million in Q1 2025, with a 1% decrease in steel finished goods shipments [2]. - **Cost of Sales**: Decreased from Ps. 5,876 million in Q1 2024 to Ps. 5,786 million in Q1 2025, representing 74% of net sales in Q1 2025 compared to 75% in Q1 2024 [3]. - **Gross Profit**: Decreased by 1% from Ps. 2,009 million in Q1 2024 to Ps. 1,997 million in Q1 2025, with gross profit as a percentage of net sales increasing from 25% to 26% [4]. - **Operating Income**: Slight increase from Ps. 1,419 million in Q1 2024 to Ps. 1,426 million in Q1 2025, maintaining an operating income percentage of 18% [7]. - **EBITDA**: Increased from Ps. 1,668 million in Q1 2024 to Ps. 1,692 million in Q1 2025 [8]. - **Net Income**: Decreased from Ps. 1,456 million in Q1 2024 to Ps. 1,305 million in Q1 2025 [9][13]. Expense Analysis - **General, Selling, and Administrative Expenses**: Increased by 6% from Ps. 595 million in Q1 2024 to Ps. 633 million in Q1 2025, representing 8% of net sales for both periods [5]. - **Comprehensive Financial Cost**: Net income from comprehensive financial activities decreased from Ps. 147 million in Q1 2024 to Ps. 57 million in Q1 2025, with an exchange loss of Ps. 156 million recorded in Q1 2025 [11][24]. Comparative Analysis - **Q1 2025 vs. Q4 2024**: Net sales decreased by 12% from Ps. 8,830 million in Q4 2024 to Ps. 7,783 million in Q1 2025, with a significant drop in sales outside Mexico by 21% [15]. - **Cost of Sales**: Decreased by 22% from Ps. 7,408 million in Q4 2024 to Ps. 5,786 million in Q1 2025, with the cost of sales as a percentage of net sales improving from 84% to 74% [16]. - **Gross Profit**: Increased from Ps. 1,422 million in Q4 2024 to Ps. 1,997 million in Q1 2025, with gross profit as a percentage of net sales rising from 16% to 26% [17]. - **Operating Income**: Increased by 66% from Ps. 861 million in Q4 2024 to Ps. 1,426 million in Q1 2025 [21]. - **Net Income**: Decreased from Ps. 1,901 million in Q4 2024 to Ps. 1,305 million in Q1 2025 [26].