Steel Dynamics Reports Record First Quarter 2021 Results
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First Quarter 2021 Performance Highlights:
Near-record steel shipments of 2.8 million tons and record steel fabrication shipments of 184,000 tons
Record net sales of $3.5 billion
Record operating income of $594 million and record net income of $431 million
Strong cash flow from operations of $262 million and record adjusted EBITDA of $664 million
Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced first quarter 2021 financial results. The company reported first quarter 2021 net sales of $3.5 billion and net income of $431 million, or $2.03 per diluted share. Excluding the impact from the following item, the company s first quarter 2021 adjusted net income was $445 million, or $2.10 per diluted share.
Steel Dynamics Reports Record First Quarter 2021 Results
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Steel Dynamics Provides Strategic Growth Update Regarding its Flat Roll Steel Operations
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Steel Dynamics Provides Strategic Growth Update Regarding its Flat Roll Steel Operations
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FORT WAYNE, Ind., April 15, 2021 /PRNewswire/ Today Steel Dynamics, Inc. (NASDAQ/GS: STLD) provided a strategic update concerning its ongoing and new flat roll steel growth initiatives. We are incredibly excited about the progress being made at our Sinton Texas EAF Flat Roll Steel Mill, stated Mark D. Millett, President and Chief Executive Officer. Sinton represents transformational growth for Steel Dynamics and long-term value creation for our teams, communities, customers, and investors. Given the success of our Sinton construction team, we are planning to add two additional value-added flat roll coating lines more quickly than originally planned. The site is yet to be determined but it will be located in the Southern U.S., to provide Sinton with similar diversification and higher-margin product capabilities as our Butler and
Steel Dynamics Provides First Quarter 2021 Earnings Guidance
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FORT WAYNE, Ind., March 17, 2021 /PRNewswire/ Steel Dynamics, Inc. (NASDAQ/GS: STLD) today provided first quarter 2021 earnings guidance in the range of $1.88 to $1.92 per diluted share. Excluding the impact from costs associated with the construction of the company s Sinton Texas Flat Roll Steel Mill growth investment of $18 million, or $0.06 per diluted share, the company expects first quarter 2021 adjusted earnings to be in the range of $1.94 to $1.98 per diluted share, which could represent a record earnings quarter for the company.
Comparatively, the company s sequential fourth quarter 2020 earnings were $0.89 per diluted share, and adjusted earnings were $0.97 per diluted share, excluding the impact of additional financing costs of $0.04 per diluted share, construction costs related to the Texas steel mill of $0.05 per diluted share, a non-cash asset impa