The company said consolidated operating income for Q3 2024 decreased $338.1 million (46%) from a year earlier to $395.4 million, as metal spread contracted across all operating platforms. Net income attributable to the company's shareholders fell 45% to $317.8 million.

1. 01

   The company said consolidated operating income for Q3 2024 decreased $338.1 million (46%) from a year earlier to $395.4 million, as metal spread contracted across all operating platforms. Net income attributable to the company's shareholders fell 45% to $317.8 million.

2. 02

   Steel Dynamics said steel segment shipments for Q3 rose 3% to 3.2 million tons, but average selling prices fell $130 per ton (11%). Steel segment operating income decreased 37% to $301.3 million, and net sales fell 8%.

3. 03

   The company said steel fabrication segment operating income for Q3 fell 50% from $330.0 million a year earlier to $165.6 million. Average selling prices dropped $1,080 per ton (28%), and net sales fell 29%.

4. 04

   As of September 30, 2024, Steel Dynamics said total debt stood at $3.7 billion, up $612.8 million from December 31, 2023, and liquidity was $3.1 billion. It said capital expenditures for the first 9 months were $1.4 billion, and share repurchases were $917.0 million.

Key figures

Quarter ended September 30, 2024

Revenue

$4.3B

Operating income

$395M

Net income

$318M

EPS

$2.05

Gross profit

$605M

Operating cash flow

$760M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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