FORT WAYNE, Ind. - Steel Dynamics, Inc. (NASDAQ:STLD), a $19.6 billion market cap steel producer with strong financial health according to InvestingPro analysis, announced today significant changes in its senior leadership team, with Glenn Pushis set to retire and Miguel Alvarez taking on new responsibilities. Pushis, the Senior Vice President of Special Projects, will retire effective October 1, 2025, to become CEO of McBride Capital Partners’ "Project Aero" in North Carolina. He will continue to consult for Steel Dynamics on their new aluminum facilities throughout the next year.
Pushis has been with Steel Dynamics since 1994 and played a pivotal role in the company’s expansion, including the construction of the new aluminum mill in Columbus, Mississippi, and two satellite recycled aluminum slab centers. His career also includes overseeing the Sinton Flat Roll Division and managing the company’s long product steel mills.
Miguel Alvarez, who joined Steel Dynamics in 2019, will assume leadership of the aluminum operations starting October 1, 2025. Alvarez has been influential in the company’s growth strategy in the Southwest U.S. and Mexico and has led the metals recycling platform since March 2022. His tenure in the steel industry dates back to 2004, holding various senior leadership positions.
The company’s leadership development and succession process is ongoing, with further announcements expected in the coming weeks regarding new senior leadership roles. Mark D. Millett, Founder, Chairman, and CEO of Steel Dynamics, praised both Pushis for his contributions and Alvarez for his leadership and growth initiatives.
Steel Dynamics is a prominent industrial metals solutions company in the United States and Mexico, known for its circular manufacturing model that emphasizes lower-carbon-emission products using recycled scrap. The company’s financial strength is evident in its healthy current ratio of 2.74 and consistent dividend payments, which it has maintained for 22 consecutive years. InvestingPro data shows the company generated $17.2 billion in revenue over the last twelve months, demonstrating its significant market presence. With a significant presence in steel production and metal recycling in North America, the company is expanding into aluminum operations to diversify its product offerings, targeting the sustainable beverage can industry, as well as automotive and industrial sectors.
This operational leadership transition is based on a press release statement from Steel Dynamics, Inc. The company’s solid financial position is reflected in its P/E ratio of 17.12, and according to InvestingPro, the stock is currently trading near its Fair Value. For deeper insights into Steel Dynamics’ financial health and future prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, along with 8 additional ProTips and extensive financial metrics.
In other recent news, Steel Dynamics reported its first-quarter 2025 financial results, exceeding Wall Street expectations with an earnings per share of $1.44 compared to the forecasted $1.41. The company also achieved revenue of $4.37 billion, surpassing the anticipated $4.16 billion. Shareholders of Steel Dynamics approved the re-election of all nine directors and ratified Ernst & Young LLP as auditors for the fiscal year ending December 31, 2025. Additionally, the company declared a quarterly cash dividend of $0.50 per common share for the second quarter of 2025, payable to shareholders on record by June 30, 2025. Steel Dynamics is also expanding into aluminum operations, aiming to provide high recycled content products to industries such as automotive and sustainable beverage can sectors. The company’s performance was marked by record steel shipments and high utilization rates, with a positive outlook for its aluminum operations in the latter half of 2025. Furthermore, Steel Dynamics continues to invest in its growth strategies while maintaining a focus on sustainability and shareholder value.
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