Scrap Monster
Vulcan
Steel News January 23, 2020 03:30:39 PM

SDI Steel Shipments Scaled New High in 2019

Paul Ploumis
ScrapMonster Author
During 2019, the company reported record steel shipments of 10.8 million tons.
SDI Steel Shipments Scaled New High in 2019

SEATTLE (Scrap Monster): Fort Wayne, Indiana-headquartered Steel Dynamics, Inc. (SDI) announced fourth quarter and full-year 2019 results.

The company’s operating income from steel operations totalled $201 million in Q4 last year, significantly lower by 16% compared to sequential Q3 results. The operating income from steel fabrication business was $33 million. SDI generated strong Q4 cash flow from operations of $409 million.

During 2019, the company reported record steel shipments of 10.8 million tons. The steel fabrication shipments too hit a record of 644,000 tons. The year witnessed company’s second-best net sales of $10.5 billion. The operating income totalled $987 million, whereas the net income was $671 million. SDI reported cash flow from operations of $1.4 billion in 2019. The metals recycling operations earning at $28 million in 2019 was much lower when compared to $88 million in 2018. Meantime, the fabrication operations achieved record shipments during the year.

Mark D. Millet, President and Chief Executive Officer commented that the company delivered a strong 2019 operational and financial performance in the midst of a challenging steel price environment. Further, he noted that North American steel consumption is likely to witness modest growth in 2020.

YOU MAY ALSO BE INTERESTED IN:

SDI Announces New $1.2 Billion Revolving Credit Facility

Fortune Names SDI as One of World's Most Admired Companies