Nucor's Q4 earnings slip on lower prices
Nucor Corp. reported a decline in profits during the fourth quarter due to lower pricing and volumes.
Tag: earnings
Cliffs ships record amount of steel; sees scrap, HRC prices staying high
Cleveland-Cliffs Inc. shipped more than 4 million short tons (st) of steel in each quarter of 2023, pushing its full-year shipments to a record 16.4m st.
SDI aluminum project logs cost bump, but timeline holds firm
Steel Dynamics Inc. faces rising costs for its Columbus, Miss., aluminum rolling mill, but the project timeline remains on track.
Final thoughts
The Tampa Steel Conference is just a few days away. Here are some topics I’m looking forward to learning more about during the proceedings on Monday and Tuesday. For starters, we’ll have about a month of 2024 under our belt when we convene on Sunday. How does that compare to what we thought the start of the year would look like? And what’s the outlook for the balance of the year?
SDI's Sinton mill moves into the black
Steel Dynamics Inc. executives said the company’s Sinton, Texas, flat-rolled steel is now Ebitda positive.
SDI's Millett bullish on HR demand this year
Steel Dynamics Inc.’s (SDI’s) top executive sees hot band demand remaining strong in 2024, which should support pricing.
SDI Q4'23 profit slips, CEO sees strong '24 ahead
Steel Dynamics Inc. (SDI) reported lower fourth quarter 2023 earnings on Tuesday but predicted good times ahead in 2024. The Fort Wayne, Ind.-based steelmaker posted a Q4’23 profit of $424.3 million, down 33.2% from a profit of $634.9 million in Q4’22 on sales that fell 12.3% to $4.2 billion.
Final thoughts
This earnings season will hit a little different. U.S. Steel has announced that it won’t be hosting an earnings call. While this silence is normal during an acquisition process, it does alter a staple of the earnings landscape.
CMC posts lower earnings, expects better results from infrastructure spend
Commercial Metals Co. saw robust demand from the construction markets in its first fiscal quarter, which ended on Nov. 30, 2023.
Algoma guides to lower FYQ3 profit on UAW strike impact
Canadian flat-rolled steelmaker Algoma Steel Group Inc. guided toward lower earnings in its fiscal 2024 third quarter, citing the United Auto Workers (UAW) strike and lower steel prices last fall.
Worthington Steel's earnings improve on increased sales volumes
The newly separated Worthington Steel noted improved earnings in its fiscal second-quarter results.
SDI sees lower Q4 earnings, but steel order activity 'solid'
Steel Dynamics Inc. (SDI) expects lower fourth-quarter earnings sequentially and on-year, though the company said “steel order activity remains solid.”
U.S. Steel follows Nucor, guides to lower Q4 profits
U.S. Steel on Thursday afternoon said it expected lower earnings in the fourth quarter compared to the third. The Pittsburgh-based steelmaker predicted fourth-quarter adjusted earnings before interest, income taxes, depreciation, and amortization (Ebitda) of approximately $250 million, or $0.20-$0.25 per diluted share.
Lower prices, volumes to stifle Nucor’s Q4 earnings
Lower prices and volumes will impact Nucor Corp.’s earnings in the current quarter, the steelmaker said in fourth-quarter earnings guidance on Thursday, Dec. 14.
CRU aluminum: A call for import monitoring and sustainable practices
CRU analysts share an update on the aluminm markets.
Greenwave Posts Another Quarterly Loss, Financial Troubles Build
Virginia-based metal recycler Greenwave Technology Solutions revealed its financial troubles in its 10-Q quarterly report released on Nov. 14.
Friedman Posts Better Fiscal Q2 Results Despite Falling Steel Prices, Sees Better Times Ahead
Friedman Industries was hit by falling steel prices in its fiscal 2024 second quarter ended Sept. 30, 2023, but anticipates improvement in its financial results for the remainder of the fiscal year.
ArcelorMittal: CSP Deal to Close in Feb, NA Expansions Progress
ArcelorMittal expects that its $2.2-billion acquisition of Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) will close in late February. “The transaction closes end of this month,” chief financial officer Genuino Christino said during an earnings call with analysts last week. The Luxembourg-based steelmaker had said that the deal had received final antitrust clearance in commentary […]