Steel Dynamics: Results für Q4 2018 meet expectations
by David Fleschen
Steel Dynamics reported that the Earnings per Share (EPS) of $1.31, $0.09 better than the analyst estimate of $1.22. Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $2.96 billion. The company reported a record for steel shipments (10.6 million tons and steel fabrication shipments of 642,000 tons). Also record net sales of $11.8 billion and operating income of $1.7 billion, a record net income of $1.3 billion ann arecord annual cash flow from operations of $1.4 billion and EBITDA of over $2.0 billion, where reported for the last quarter of 2018.
"We believe the market dynamics are in place for domestic steel consumption to continue to increase this year," said Millett, President and CEO of Steel Dynamic. "Based on strong domestic steel demand fundamentals and continued customer optimism, we believe North American steel consumption will experience steady growth. In combination with our existing and newly announced expansion initiatives, we believe there are firm drivers for our continued growth. We continue to strengthen our financial position through strong cash flow generation and the execution of our long-term strategy. We are well-positioned for growth and remain focused on delivering shareholder value through organic and transactional growth opportunities."
Source: Street Insider, photo: fotolia