Core Viewpoint - Friedman Industries' stock has underperformed following its earnings release, with a 3.2% decline compared to a 0.7% dip in the S&P 500 Index, although it showed a slight gain of 0.5% over the past month [1] Earnings and Revenue Summary - For Q4 fiscal 2025, Friedman Industries reported net earnings of $5.3 million ($0.76 per diluted share), a 7.8% increase from $4.9 million ($0.71 per share) in the previous year [2] - Quarterly sales decreased by 2.3% to $129.2 million from $132.2 million, despite achieving record sales volume of 166,500 tons, a 4.7% year-over-year rise and a 28% sequential increase [2] - Full-year net earnings fell 64.9% to $6.1 million ($0.87 per diluted share) from $17.3 million ($2.39 per share) in fiscal 2024, with annual sales dropping 13.9% to $444.6 million from $516.3 million [2] Segment Performance - The flat-roll segment generated $117.7 million in sales, down 2.4% from $120.6 million year-over-year, with tons sold from inventory rising 15.8% to 139,000 [3] - The tubular segment's sales were nearly flat at $11.5 million, with volume increasing 15.8% to 11,000 tons, while the average selling price declined 14.1% to $1,044 per ton [4] Hedging and Financial Metrics - The company recorded a $1.8 million gain from hot-rolled coil futures in Q4 and $7.6 million for the full fiscal year, aiding in offsetting price volatility in the steel market [5] - Management noted that hedging capabilities were crucial in stabilizing margins during a challenging pricing environment [6] Cost Control and Expense Management - SG&A expenses decreased by 37.5% to $3.8 million in Q4 from $6.1 million a year earlier, and full-year SG&A expenses fell 23.1% to $16.2 million from $21 million [7] Management Commentary and Strategy - CEO Michael J. Taylor highlighted the disciplined execution of the growth strategy, noting a 28% sequential increase in quarterly sales volume and a 4.7% year-over-year rise [8] - The new facility in Sinton, TX, achieved the highest profit margin among all locations, reaching full production capacity during the year [8][9] Forward Guidance - The company expects slightly lower sales volume in Q1 fiscal 2026 due to planned equipment downtime but anticipates improved margins from pricing actions and operational streamlining [10] - Management expressed confidence in capitalizing on growth opportunities, citing favorable industry demand and a strong balance sheet [10] Other Developments - No acquisitions, divestitures, or restructuring initiatives were reported in Q4 fiscal 2025, but management reaffirmed its commitment to disciplined capital allocation and a continued quarterly dividend policy since 1972 [11]

Core Insights - Nucor Corporation (NUE) anticipates earnings growth across all segments for Q2 2025, with the steel mills segment expected to see the most significant increase due to higher average selling prices [1][8] - The projected earnings per share (EPS) for Q2 2025 is between $2.55 and $2.65, a substantial rise from 67 cents in Q1 2025 [1][8] - The steel products segment is expected to benefit from stable pricing, increased volumes, and lower average costs per ton, contributing to sequential earnings growth [2] Financial Performance - Nucor repurchased approximately 1.8 million shares at an average price of $111.89 per share in Q2 2025, totaling around 4 million shares repurchased year-to-date at an average price of $123.75 [3] - The company has returned approximately $755 million to shareholders through share repurchases and dividends year-to-date [3] Stock Performance - NUE stock has experienced an 18.2% decline over the past year, which is less severe compared to the industry's 25.9% decline [5]

U.S. Steel has been acquired by Nippon Steel. That raises the inevitable question: Who gets the X? https://t.co/w3QCiwFGNc ...

Core Viewpoint - ArcelorMittal has completed the acquisition of Nippon Steel Corporation's 50% equity stake in AM/NS Calvert, gaining full ownership of the facility, which is a significant step in enhancing its presence in the U.S. steel market [1][5][11] Acquisition Details - The acquisition was finalized in accordance with the Equity Purchase Agreement signed on October 11, 2024, with ArcelorMittal already holding the remaining 50% stake [1] - The facility, now named ArcelorMittal Calvert, was originally acquired in 2014 for $1.55 billion and has undergone over $2 billion in capital expenditures since then to improve efficiency and product offerings [2][11] Facility Capabilities - ArcelorMittal Calvert has an annual flat rolled steel capacity of 5.3 million metric tonnes and is recognized as one of the most advanced steel finishing facilities in North America [2] - The facility includes a new state-of-the-art steelmaking facility capable of producing 1.5 million metric tonnes of low CO2 steel annually, which will support automotive customers [2][3] Strategic Investments - A new seven-year domestic slab supply agreement with NSC has commenced, averaging 750,000 metric tonnes per year, ensuring a significant portion of slab requirements are met domestically [2] - The company plans to invest $1.2 billion to construct a non-grain-oriented electrical steel manufacturing facility at the Calvert site, expected to produce up to 150,000 metric tonnes annually [4][11] Financial Implications - In FY 2024, AM/NS Calvert generated EBITDA of $614 million, with approximately 60% reflected in ArcelorMittal Group EBITDA [11] - Following the acquisition, ArcelorMittal's net debt is expected to increase by approximately $1.3 billion, with an exceptional gain of about $1.5 billion anticipated in its 2Q 2025 results [11] Future Outlook - The company aims to establish a manufacturing center of excellence at Calvert, focusing on safety and expanding its product portfolio to meet growing automotive mobility demands [10][11] - The facility is positioned to play a pivotal role in supporting the U.S. steel industry's revitalization and addressing critical market needs [11]

Core Viewpoint - Nucor Corp is experiencing a rise in stock price due to a strong second-quarter profit forecast, despite a slight decline in expected earnings compared to the previous year [1]. Group 1: Financial Performance - Nucor expects earnings between $2.55 and $2.65 per share for the second quarter, which is a small decline from $2.68 reported in the same quarter last year, but still above analyst estimates of $2.36 per share [1]. - The stock is currently trading at $128.15, reflecting a 4.9% increase [1]. Group 2: Stock Performance - Nucor's stock is at its highest levels since March and has seen an approximate 8% increase since the start of 2025 [2]. - The shares are facing resistance at their 160-day trendline, which has historically limited price increases [2]. Group 3: Options Activity - There is a notable surge in call options volume, with 5,095 calls exchanged, which is four times the typical volume for this time [3]. - The June 140 call is the most popular among traders, followed by the July 130 call, indicating strong interest in upward price movement [3]. - Nucor's Schaeffer's Volatility Index (SVI) is at 38%, suggesting that traders are currently pricing in low volatility expectations [3].

Core Viewpoint - Steel Dynamics, Inc. anticipates second quarter 2025 earnings per diluted share in the range of $2.00 to $2.04, a decrease from $2.72 in the same quarter last year and an increase from $1.44 in the first quarter of 2025 [1][2]. Group 1: Steel Operations - Profitability from steel operations is expected to be significantly stronger than the first quarter of 2025, driven by expanded metal spreads and increased average realized steel pricing [2]. - Long product steel shipments improved sequentially, while flat rolled volumes contracted modestly due to inventory overhang from coated flat rolled steel imports [2]. - Demand is primarily led by the energy, non-residential construction, automotive, and industrial sectors [2]. - Steel segment pretax earnings were reduced by approximately $32 million due to a noncash write-off of consumable assets [2]. Group 2: Metals Recycling Operations - Earnings from metals recycling operations are expected to remain steady sequentially, as stronger shipments offset lower realized pricing [3]. Group 3: Steel Fabrication Operations - Earnings from steel fabrication operations are expected to decline compared to the first quarter of 2025, due to steady shipments and metal spread compression from increased raw material costs [4]. - The pace of order activity increased, and the order backlog improved, supported by demand from commercial, data center, manufacturing, warehouse, and healthcare sectors [4]. - Domestic manufacturing investment and the U.S. infrastructure program are expected to positively impact demand for steel products [4]. Group 4: Aluminum Operations - The company is successfully commissioning its aluminum flat rolled products mill in Columbus, Mississippi, and a satellite recycled slab center in San Luis Potosi, Mexico [5]. - The first aluminum ingot was cast in January and March 2025, with shipping expected to begin mid-2025 [5]. Group 5: Stock Repurchase - As of June 11, 2025, the company repurchased $179 million, or one percent, of its common stock during the second quarter [6]. Group 6: Company Overview - Steel Dynamics is a leading industrial metals solutions company, operating with a circular manufacturing model and focusing on lower-carbon-emission products [7]. - The company is one of the largest domestic steel producers and metal recyclers in North America, with ongoing investments in aluminum operations to diversify its product offerings [7].

Core Insights - Nucor Corporation expects second quarter earnings to be between $2.55 and $2.65 per diluted share, showing a decrease from $2.68 per diluted share in the same quarter of 2024 and an increase from $0.67 per diluted share in the first quarter of 2025 [1][2] Earnings Expectations - Earnings are anticipated to rise across all three operating segments, with the steel mills segment expected to see the largest increase due to higher average selling prices at sheet and plate mills [2] - The steel products segment is projected to benefit from stable pricing, increased volumes, and lower average costs per ton, leading to higher earnings compared to the first quarter of 2025 [2] - The raw materials segment is also expected to report increased earnings in the second quarter of 2025 [2] Share Repurchase and Returns - Nucor has repurchased approximately 1.8 million shares at an average price of $111.89 per share during the second quarter, totaling about 4.0 million shares year-to-date at an average price of $123.75 per share [3] - The company has returned approximately $755 million to stockholders through share repurchases and dividend payments year-to-date [3] Upcoming Earnings Release - Nucor plans to release its second quarter earnings after market close on July 28, 2025, followed by a conference call on July 29, 2025, at 10:00 a.m. Eastern Time [4]

Market Overview - On June 17, the main contract for stainless steel futures closed at 12,480 CNY/ton, down 70 CNY/ton, while the main contract for nickel closed at 118,570 CNY/ton, down 1,120 CNY/ton, indicating a slight decline in stainless steel futures prices and an increase in bearish market sentiment [2]. - Domestic stainless steel prices mainly decreased, with 304 grade down by 50 CNY/ton, 201 grade down by 50 CNY/ton, and 430 grade remaining stable [2]. Price Changes by Steel Mills - Taigang's 304/2B (2.0mm) is priced at 15,600 CNY, down 50 CNY; 304/No.1 (3.0-12mm) at 14,800 CNY; and 430/2B (2.0mm) at 9,800 CNY [2]. - Zhangpu's 304/2B (2.0mm) is priced at 13,600 CNY, while Dongfang Special Steel's 304/No.1 (4-8mm) is at 12,500 CNY and 316L/No.1 (4-8mm) at 23,550 CNY [2]. Market Performance - In Wuxi, the price for 304 grade decreased by 50 CNY/ton, 201 grade also down by 50 CNY/ton, while 430 grade remained stable [2]. - In Foshan, the price for 304 grade decreased by 50 CNY/ton, 201 grade down by 50 CNY/ton, and 430 grade stable [2]. Raw Material Prices - On June 17, the price for nickel plate in the Yangtze River region was 120,100 CNY/ton, down 900 CNY/ton; high-carbon ferrochrome (FeCr55C1000) in Sichuan was 8,050 CNY/50 base tons, unchanged; and molybdenum iron (FeMo60) in Henan was 246,000 CNY/ton, unchanged [4]. Futures Market Analysis - The stainless steel futures market showed a weak trend, with the K-line closing as a small bearish candle, indicating a continuation of the bearish trend. The next trading day for the 2508 contract is expected to range between 12,550 CNY and 12,400 CNY [6].

Core Viewpoint - Analysts project that Commercial Metals (CMC) will report quarterly earnings of $0.75 per share, reflecting a 26.5% decline year over year, with revenues expected to reach $2.01 billion, down 3.3% from the same quarter last year [1]. Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 5.1%, indicating a collective reassessment by covering analysts [2]. - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock price performance [3]. Revenue Projections - Analysts estimate that 'Net Sales- Emerging Businesses Group- Net sales from external customers' will be $185.76 million, a year-over-year decline of 1.5% [5]. - 'Net sales from external customers- North America' are projected to be $1.60 billion, reflecting a year-over-year decrease of 4.5% [5]. - 'Net sales from external customers- Europe' are expected to reach $215.88 million, indicating a year-over-year increase of 3.4% [6]. - 'Net sales from external customers- Corporate and Other' are estimated at $13.13 million, showing a significant year-over-year increase of 34.9% [6]. Key Metrics - The consensus estimate for 'Major product- North America- Other' is $37.24 million, reflecting a year-over-year increase of 18.4% [7]. - The average selling price (per ton) for 'Raw materials' in North America is forecasted to be $951.15, down from $970 in the same quarter last year [7]. - The estimated 'Steel products metal margin per ton' in Europe is projected at $289.43, slightly down from $292 year-over-year [7]. - The average selling price (per ton) for 'Downstream products' in North America is expected to be $1,252.19, down from $1,330 in the same quarter last year [8]. - The 'Steel products metal margin per ton' in North America is projected to be $495.12, down from $538 in the same quarter last year [9]. - 'Europe - Steel products (External tons shipped)' is expected to reach 317.31 thousand, up from 297 thousand year-over-year [9]. - The average prediction for 'Europe - Steel products - Rebar' is 97.15 thousand, up from 80 thousand in the same quarter last year [10]. Stock Performance - Over the past month, Commercial Metals shares have recorded a return of +0.8%, compared to the Zacks S&P 500 composite's +1.4% change, indicating potential underperformance in the upcoming period [11].

Shares of U.S. Steel soared Monday after President Donald Trump issued an executive order on Friday approving U.S. Steel’s merger with Japan’s Nippon Steel through a National Security Agreement (NSA).  The stock gained over 5% in the biggest percentage rise since March 2011, as tracked by Dow Jones Market Data Group. Ticker Security Last Change Change % X UNITED STATES STEEL CORP. 54.85 +2.66 +5.10% U.S. Steel .The NSA includes a commitment to more than $11 billion in new steelmaking investments in the U ...