SEATTLE (Scrap Monster): Fort Wayne, Indiana-based Steel Dynamics, Inc. (SDI) reported financial results for Q4 and full-year 2021.
The company reported record Q4 net sales of $5.3 billion and net income of $1.1 billion or $5.49 per diluted share. It reported adjusted net income of $1.1 billion or $5.78 per diluted share. This compares with sequential third quarter 2021 earnings of $4.85 per diluted share and adjusted earnings of $4.96 per diluted share and prior year Q4 earnings of $0.89 per diluted share and adjusted earnings of $0.97 per diluted share.
The company delivered tremendous operational and financial performance during 2021, achieving record net sales of $18.4 billion, operating income of $4.3 billion, and adjusted EBITDA of $4.6 billion. It achieved record annual cash flow from operations of $2.2 billion and ended the year with strong liquidity of over $2.4 billion.
SDI witnessed strong domestic steel demand throughout the year, mainly supported by the construction, automotive and industrial sectors. The steel operations achieved record annual 2021 shipments of 11.2 million tons and record operating income of $4.4 billion. Also, SDI’s metals recycling and steel fabrication operations achieved record 2021 annual operating income of $195 million and $365 million, respectively.
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