Tag: earnings

Worthington Steel is taking a pause on M&A activity as it focuses on progressing its electrical steel expansions in Mexico and Canada.

Worthington Steel’s profits jumped in its fiscal third quarter of 2024 vs. a year earlier, its first quarter as a standalone company.

A temporary surplus of rebar on the West Coast is forcing CMC to alter the planned ramp-up of its Arizona 2 micro-mill, the company's leader said on Thursday.

CMC’s earnings slid in its fiscal second quarter vs. the same period last year as the company cited seasonal issues and challenging weather conditions in several key areas.

Radius Recycling anticipates a wider loss in its fiscal second quarter vs. the first quarter, according to preliminary results.

U.S. Steel expects higher earnings in the first quarter of this year vs. the previous quarter.

Strength in its flat-rolled steel operations is pushing Steel Dynamics Inc. (SDI) to guide to higher sequential earnings in the current quarter.

Nucor said on Thursday afternoon it expects higher profits in the first quarter vs. the previous quarter but lower than a year earlier.

Worthington Steel began trading publicly on New York Stock Exchange on Dec. 1. In one sense, this marked the “finish line” of the company’s separation process. As the company gets ready to release its first earnings report as a standalone company, president and CEO Geoff Gilmore reflected on the journey, and what lies ahead.

Northwest Pipe posted lower earnings in the fourth quarter as the company said it faced significant challenges in its steel pressure pipe (SPP) and precast businesses in full-year 2023.

Domestic prices have been sliding since the beginning of the year, and I don’t see any obvious reasons why the slide might stop this week. But let’s put the timing of a bottom aside for a minute. The question among some of you seems to be whether we’ll see another price spike, or at least a “dead-cat bounce,” before the typical summer doldrums kick in.

Olympic Steel said it's open to future acquisitions in all three of its business segments.

Olympic Steel’s earnings jumped in the fourth quarter, even as the company dealt with "significant" price volatility in hot rolled for full-year 2023.

Alan Kestenbaum, the CEO of Stelco, said the company is actively evaluating ways to grow the company, including both organic and inorganic opportunities.

Ryerson swung to a net profit in the fourth quarter, though revenue declined from the same period last year.

Canada will soon require steel imports to report “country of melt and pour” information.

Canadian steelmaker Stelco swung to a loss in the fourth quarter as revenue declined due to decreased shipping volume and average selling prices.

Falling steel prices at present are not a symptom of demand but of imports arriving into the US and to some parts of Mexico, Ternium’s CEO Maximo Vedoya said this week.

Latin American steelmaker Ternium posted a strong uptick in earnings in its fourth quarter, and sees increasing steel demand growth in Mexico.

Australia's BlueScope Steel has begun making plans to potentially add cold rolling and coating capabilities in the US.

The LME 3-month price was broadly stable again on the morning of Feb. 16, and was last seen trading at $2,230 per metric ton (mt). On Feb. 16, LME stocks were reported at 534,925 mt, an increase of nearly 10,000 mt from last Friday. The change comes after 15,125 mt of metal was delivered into […]

Friedman Industries posted lower earnings in its fiscal third quarter but was upbeat on the next quarter due to the effect of increased hot-rolled coil prices.

Reliance Inc. – formerly Reliance Steel & Aluminum Co. – introduced its “new company identity” that emphasized its “evolution to more than steel,” the company said in its fourth-quarter and full-year earnings report.

Weak demand and pricing for graphite electrodes combined with higher costs are forcing GrafTech to implement cost-cutting procedures and reduce production across its facilities.

ArcelorMittal indicated that a sale of U.S. Steel to Nippon Steel could lead to it taking full control of AM/NS Calvert, its joint venture sheet mill in Alabama. "Typically, in such situations, when there is a selling partner, they sell it to the other partner in the joint venture, right. So I could imagine such a situation would develop,” Mittal said.

Russel Metals has invested a lot in recent years, and it’s not done yet.

Algoma Steel Group Inc. suffered another incident at its steel mill in Sault Ste. Marie, Ontario, this week.

ArcelorMittal swung to a loss in the fourth quarter largely because of costs associated with a deadly coal mining disaster last year in Kazakhstan. The Luxembourg-based steelmaker sold its Kazakhstan operations in December and no longer owns and operates coal mines as a result of the move, according to comments released along with earnings data on Thursday.

Algoma Steel reported a wider loss in its fiscal third quarter amid lingering impact from the United Auto Workers (UAW) strike and “heavy seasonal maintenance.” Additionally, the Canadian steelmaker said it has completed repairs at it blast furnace and “restored partial coke-making capabilities” after a previously reported incident on Jan. 20.

The head of SSAB Americas talked the company's commitment to Swedish parent SSAB’s mission statement of sustainability at the Tampa Steel Conference 2024.