Steel Mills

Steel Dynamics Expects Lower Earnings in Q1
Written by Sandy Williams
March 19, 2019
Steel Dynamics’ earnings guidance for first-quarter 2019 was lower than analysts expected. SDI anticipates a decrease from the prior quarter as a result of lower earnings from its sheet operations. Expected earnings of $0.88 to $0.92 per diluted share will also be impacted by planned maintenance outages during the quarter.
Although sheet earnings fell in the first quarter, SDI says recent improvements in steel prices have resulted in increased order activity and growing backlogs. Overall, shipments are expected to be higher in the first quarter with demand continuing to improve throughout the year.
Steel fabrication shipments were lower in the first quarter due to inclement weather conditions, but earnings in the segment are expected to improve due to higher selling values and lower steel input costs. Order backlog is up compared to a year ago, with customers optimistic about nonresidential construction projects for the summer, the company said.
The metals recycling platform showed improved nonferrous volume and metal spread expansion, despite slightly lower average price realization.

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.