EU and US could reach trade deal this weekend - Reuters
FORT WAYNE, Ind. - Steel Dynamics Inc. (NASDAQ:STLD) reported better-than-expected first quarter earnings and revenue on Tuesday, sending shares up 1.3% in after-hours trading.
The steel producer posted adjusted earnings of $1.44 per share, topping analyst estimates of $1.41 per share. Revenue came in at $4.37 billion, beating expectations of $4.16 billion.
Steel Dynamics achieved record steel shipments of 3.5 million tons in Q1, driving a 16% sequential increase in operating income to $275 million. Net income rose to $217 million, or $1.44 per diluted share, compared to $207 million, or $1.36 per share, in Q4 2024.
"The teams executed well, achieving a solid first quarter 2025 performance," said CEO Mark D. Millett. "The improvement in earnings was driven by record steel shipments and supported by solid results from our metals recycling and steel fabrication operations."
The company noted that underlying steel demand improved in Q1 as customer orders rebounded and backlogs increased. Steel prices also improved throughout the quarter from lows seen in late 2024.
Steel Dynamics maintained a strong liquidity position of $2.6 billion as of March 31. The company repurchased $250 million of common stock in Q1, representing 1.3% of outstanding shares.
Looking ahead, Millett said the company remains "constructive that market conditions are in place for domestic steel consumption to be solid through 2025 and into the following years."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.