Steel Mills
SDI Q2 Earnings Guidance Meets Expectations
Written by Sandy Williams
June 22, 2015
Steel Dynamics reported adjusted second quarter earnings guidance in the range of $0.20 to $0.24 per share, an improvement over $0.17 per share in first quarter. Not included in the earnings guidance is $29 million of expenses associated with the idling of the Minnesota operations and $9 million in reduced earnings due to a planned furnace maintenance outage at iron Dynamics.
Overall profitability in the second quarter is expected to be in line with first quarter 2015 results. Shipments increased in second quarter but were offset by lower metal margins driven by high levels of steel imports. The company benefited from lower scrap pricing but steel product pricing continued to be pressured by imports. Steel Dynamics noted steel pricing is beginning to stabilize and domestic steel demand remains solid.
Steel Dynamics fabricated steel joist and decking products have benefited from improvement in the non-residential construction market. Results in fabrication operations are expected to be higher than the “near-record sequentially first quarter 2015 results.”
Metals recycling earnings are also expected to be higher in Q2 2015 due to increased shipments and metal margins, with less pricing volatility.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.
Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.
USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.
SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.
POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.