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
Ancora asks USS to delay shareholder meeting until after Nippon deal wind-down date
The investment firm seeking to oust U.S. Steel’s leadership has asked the steelmaker to schedule its annual shareholder meeting after June 18. That’s the deadline set by the US government for USS and Nippon Steel to unwind their nearly $15-billion merger deal. Ancora Holdings Group sent a letter dated Feb. 27 to board members of […]
Algoma Steel temporarily idles blast furnace, local news reports
"We experienced an event at the blast furnace which required a controlled shut down to facilitate repairs," a spokesperson said.
Global steel output rises in January
Global crude steel output rose 5% from December to January but still lagged last year.
Production slows at USS Edgar Thomson Plant after BOF house incident
The building in Braddock, Pa. that houses the basic oxygen process equipment suffered “minor damage” on Feb. 23, a spokesperson said.
Cliffs swings to loss in 2024 amid ‘worst steel demand environment since 2010’
"The second half of last year was especially bad with the steel demand from the automotive sector slowing down, construction activity lagging and industrial production taking a hit," the CEO said.