Valued at a market cap of $24.2 billion, Steel Dynamics, Inc. (STLD) is a steel producer and metal recycler based in Fort Wayne, Indiana. It produces hot-rolled, cold-rolled, coated sheet steel, structural beams and rails, specialty steel, while also running extensive metals-recycling operations, downstream steel fabrication, and aluminum production. Companies valued at $10 billion or more are typically classified as “large-cap stocks,” and STLD fits the label perfectly, with its market cap exceeding this ...

Company Overview - TimkenSteel was founded in 1917 and became a standalone public company in 2014 [9] - The company produces steel primarily from recycled scrap metal using electric arc furnace (EAF) technology [9] - TimkenSteel's annual melt capacity is approximately 12 million tons, with a shipping capacity of approximately 09 million tons [9] - In 2021, TimkenSteel reported net sales of $13 billion [9] Financial Performance and Targets - TimkenSteel is targeting $80 million of run-rate profitability improvement through optimization [16] - The company generated $341 million of free cash flow [16] - The company's historical average adjusted EBITDA margin is 8%, with a long-term target of over 12% [85] - The company's historical average melt utilization rate is 61%, with a long-term target in the mid-80% range [85] - Capital expenditures are targeted between $30 million and $40 million [85] Environmental Goals - TimkenSteel has established 2030 environmental goals, including a reduction in Scope 1 and Scope 2 GHG emissions [9, 68] - From 2018 to 2021, the company achieved a 31% reduction in fresh water withdrawn [70] - From 2018 to 2021, the company achieved a 29% reduction in waste-to-landfill intensity [71] Q3 2022 Results and Outlook - In Q3 2022, TimkenSteel reported net sales of $3168 million [28] - The company experienced a net loss of $133 million with adjusted EBITDA of $108 million [28] - The company's total liquidity at the end of Q3 2022 was $4872 million [90]