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Steel Dynamics Announced Q3 Results-2020 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
10/20/2019 钣金展-激光展- Laser expo, Sheet Metal Industry expo |
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Steel Dynamics, Inc announced third quarter 2019 financial results. The company reported third quarter 2019 net sales of USD 2.5 billion and net income of USD 151 million, or USD 0.69 per diluted share. Comparatively, prior year third quarter net sales were USD 3.2 billion, with net income of USD 398 million, or USD 1.69 per diluted share, which included charges related to fair value purchase accounting adjustments of USD 0.04 per diluted share and a tax benefit of USD 0.04 per diluted share. Sequential second quarter 2019 net sales were USD 2.8 billion, with net income of USD 194 million, or USD 0.87 per diluted share.
The company generated strong cash flow from operations of USD 444 million during the third quarter 2019 and increased liquidity to a record high USD 2.4 billion. The company paid cash dividends of USD 53 million and repurchased USD 115 million of its common stock during the third quarter 2019.
Mr Mark D. Millett, President and Chief Executive Officer said that "Our third quarter 2019 consolidated operating income was USD 228 million and adjusted EBITDA USD 315 million. The team delivered a solid third quarter performance in a challenging steel pricing environment, as average steel pricing declined in the quarter more than offsetting the benefit of lower scrap costs. Steel customer inventory destocking has subsided, and underlying domestic steel demand remains principally intact for the primary steel consuming sectors, with particular strength in construction, as supported by our continued seasonally strong steel fabrication backlog."
Mr Millett said that "Based on domestic steel demand fundamentals, we are constructive regarding 2020 North American steel market dynamics. We believe North American steel consumption will experience modest growth and will be supported by further steel import reductions and the end of steel inventory destocking. We believe current trade actions could have a positive impact in further reducing unfairly traded steel imports into the United States, including coated flat roll steel, which could have a significant positive impact for Steel Dynamics, as we are the largest non-automotive flat roll steel coater in the United States. In combination with our existing and newly announced expansion initiatives, there are firm drivers in place for our continued growth. We are excited about our Sinton, Texas flat roll steel mill project, and the associated long-term value creation it will bring through geographic and value-added product diversification. This facility is designed to have product size and quality capabilities beyond that of existing electric-arc-furnace flat roll steel producers, competing even more effectively with the integrated steel model and foreign competition. We have targeted regional markets that represent over 27 million tons of relevant flat roll steel consumption, which includes the growing Mexican flat roll steel market. This facility is located and designed to have a meaningful competitive advantage in those regions.”
钣金展-激光展-2020年第二十一届广州国际激光设备及钣金工业展
-2020
China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
-Sheet metal exhibition, Sheet metal expo,
2020 Sheet metal exhibition, 2020 Sheet metal expo, China Sheet metal
exhibition, China Sheet metal expo, Laser Equipment exhibition, Laser Equipment
expo, 2020 Laser Equipment exhibition, 2020 Laser Equipment expo, Laser exhibition, Laser expo
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