Financial Performance - Steel shipments for Q3 2024 were 3.2 million tons, with net sales of $4.3 billion, operating income of $395 million, and net income of $318 million [1] - Adjusted EBITDA for Q3 2024 was $557 million, with cash flow from operations of $760 million [1] - The company repurchased $310 million of its common stock, representing 1.6% of outstanding shares [1] - Net income for the first nine months of 2024 was $1.3 billion, a decline from $2.0 billion in the same period in 2023 [3] - Operating income for the first nine months of 2024 decreased by 35% to $1.7 billion compared to the same period in 2023 [3] Operational Highlights - The Sinton Texas Flat Roll Steel Mill operated at 72% of its capability in September 2024, excluding scheduled downtime [2] - Steel fabrication operations achieved operating income of $166 million in Q3 2024, with steady demand and a 5% softening in average realized pricing [2] - The company's metals recycling operations saw a decline in operating income to $12 million in Q3 2024 due to softer demand and a $10 million unrealized copper hedging loss [2] - The company's steel operations realized a slight improvement in metal spread as scrap pricing declined more than average realized pricing [1] Market and Demand Outlook - Underlying steel demand remained stable in Q3 2024, with flat rolled steel prices stabilizing and improving later in the quarter [1] - The company expects steel pricing to recover in 2025 due to anticipated lower domestic interest rates, onshoring of manufacturing, and infrastructure investments [4] - The company's new value-added flat rolled steel coating lines are expected to contribute to earnings in 2025, with higher-margin products already representing over 65% of steel revenues [4] - The aluminum flat rolled products mill is expected to begin operations in mid-2025, targeting the sustainable beverage can and packaging industry, as well as automotive, industrial, and construction sectors [4] Capital Allocation and Investments - The company invested $621 million in internal growth initiatives in Q3 2024 and distributed $381 million to shareholders through dividends and share repurchases [1] - For the first nine months of 2024, the company invested $1.4 billion in capital investments and repurchased $917 million of its common stock, representing 4.5% of outstanding shares [3] - The company maintains strong liquidity of $3.1 billion as of September 30, 2024 [1] Segment Performance - Steel operations generated $305 million in operating income in Q3 2024, with average external product selling prices decreasing by $79 per ton sequentially to $1,059 per ton [2] - Steel fabrication operations achieved $166 million in operating income in Q3 2024, with steady demand and a 5% softening in average realized pricing [2] - Metals recycling operations saw a decline in operating income to $12 million in Q3 2024 due to softer demand and a $10 million unrealized copper hedging loss [2]

Steel Dynamics, Inc. (STLD) is set to release third-quarter 2024 results after the closing bell on Oct. 16.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Steel Dynamics’ earnings beat the Zacks Consensus Estimate in two of the last four quarters while missed twice. It has a trailing four-quarter earnings surprise of roughly 1.1%, on average. The company posted an earnings surprise of around 1.9% in the last reported quarter. Its third-quarter results are likely to have been impacte ...

Analysts on Wall Street project that Steel Dynamics (STLD) will announce quarterly earnings of $1.98 per share in its forthcoming report, representing a decline of 42.9% year over year. Revenues are projected to reach $4.25 billion, declining 7.4% from the same quarter last year.The consensus EPS estimate for the quarter has undergone a downward revision of 15.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estima ...

Steel Dynamics (STLD) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on October 16, 2024, might help the stock move higher if these key numbers are better t ...

In the latest market close, Steel Dynamics (STLD) reached $128.22, with a +0.53% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.9% for the day. Elsewhere, the Dow saw an upswing of 0.81%, while the tech-heavy Nasdaq appreciated by 1.22%.Heading into today, shares of the steel producer and metals recycler had gained 14.57% over the past month, outpacing the Basic Materials sector's gain of 7.23% and the S&P 500's gain of 3.15% in that time.Investors w ...

Wabash National Corporation (WNC) , a leading semi-trailer manufacturer in North America, has entered into a 10-year strategic agreement with Steel Dynamics, Inc. (STLD) , a major steel producer and recycler in the region. The partnership ensures a steady supply of key steel components, such as hot-rolled, galvanized and painted steel coils, as well as steel cross members, for Wabash’s range of transportation solutions, including van trailers, tank trailers, platform trailers and truck bodies.Per Richard Ma ...

Group 1 - Steel Dynamics (STLD) stock closed at $123.34, reflecting a -1.07% change from the previous day, underperforming the S&P 500's daily loss of 0.19% [1] - Over the past month, Steel Dynamics shares increased by 2.69%, which is below the Basic Materials sector's gain of 3.7% but above the S&P 500's gain of 1.95% [1] - The upcoming earnings report on October 16, 2024, is expected to show an EPS of $1.94, a decline of 44.09% year-over-year, with projected quarterly revenue of $4.25 billion, down 7.35% from the previous year [1] Group 2 - For the full year, earnings are projected at $10.32 per share and revenue at $17.64 billion, reflecting declines of -30.97% and -6.16% respectively from the prior year [2] - Recent analyst estimate revisions for Steel Dynamics indicate short-term business trends, with positive revisions seen as a favorable sign for the company's outlook [2] - The Zacks Rank system, which assesses stock performance based on estimate changes, currently ranks Steel Dynamics at 3 (Hold) [3] Group 3 - Steel Dynamics has a Forward P/E ratio of 12.09, aligning with the industry average, suggesting no significant deviation in valuation [3] - The Steel - Producers industry is part of the Basic Materials sector and currently holds a Zacks Industry Rank of 150, placing it in the bottom 41% of over 250 industries [3] - The Zacks Industry Rank indicates that the top 50% of rated industries outperform the bottom half by a factor of 2 to 1 [4]

Steel Dynamics, Inc. (STLD) has issued earnings guidance for the third quarter of 2024 in the $1.94-$1.98 per share range. This represents a decline from the company's second-quarter 2024 earnings of $2.72 per share and its third-quarter 2023 earnings of $3.47.STLD’s steel operations profitability is expected to be significantly lower than  the second quarter due to reduced average realized pricing in the flat rolled operations. Approximately 80% of this business is contract-based, linked to lagging pricing ...

In the latest trading session, Steel Dynamics (STLD) closed at $108.74, marking a -1.81% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.45%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.84%.The steel producer and metals recycler's shares have seen a decrease of 4.51% over the last month, not keeping up with the Basic Materials sector's loss of 0.34% and the S&P 500's gain of 2.54%.The investment community will be closely monitoring ...

FORT WAYNE, Ind., Sept. 5, 2024 /PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS: STLD) today petitioned the Department of Commerce (DOC) and the U.S. International Trade Commission (ITC) to apply antidumping duties against imports of corrosion resistant flat rolled steel (CORE) from Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, UAE, and Vietnam, and countervailing duties against imports of CORE from Brazil, Canada, Mexico, and Vietnam. The company was joined by four other ...