Steel Dynamics Inc.

+0.02 (+0.03%)
Other Pre-Announcement

Steel Dynamics Reports Q2 EPS $3.32

Published: 07/19/2021 20:43 GMT
Steel Dynamics Inc. (STLD) - Steel Dynamics Reports Record Second Quarter 2021 Results.
Q2 Sales $4.5 Billion Versus Refinitiv Ibes Estimate of $4.22 Billion.
Q2 Earnings per Share $3.32.
Q2 Earnings per Share Estimate $3.44 -- Refinitiv Ibes Data (analyst estimates).
Qtrly Steel and Fabrication Shipments of 2.9 Million Tons and 189,000 Tons, Respectively.
Announced New $1.0 Billion Share Repurchase Authorization in Quarter.
Confident That Macroeconomic and Market Conditions Are in Place to Support Strong Domestic Steel Demand in 2021 and Beyond.
Continue to See Strong Steel Demand Coupled With Extremely Low Customer Steel Inventories Throughout Supply Chain.
Automotive Sector Continues to Be Strong, Despite Electronic Chip Shortage.
Believe Q3 2021 Earnings Could Represent Another Record Performance.
Continue to Be Positive Regarding North American Steel Market Dynamics.
Plan to Invest Approximately $450 Million to $500 Million in Four Additional Value-added Flat Roll Steel Coating Lines.
Due to Excessive Heavy Rains in Texas, Actual Steel Production From Sinton Will Be Delayed, Now Planned to Start Mid Q4 2021.
Steel Dynamics - Believe Shipments From Sinton Could Be in Range of 100,000 Tons During Remainder of Year, Between 2.2 Million Tons - 2.4 Million Tons in 2022.
Believe the Additional Four Lines Will Likely Begin Operating Sometime in Second Half of 2022.