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Dec 31, 2021
Steel Dynamics Q4 2021 Earnings Report
Steel Dynamics reported record fourth quarter and record annual 2021 results.
Key Takeaways
Steel Dynamics announced record fourth quarter 2021 net sales of $5.3 billion and net income of $1.1 billion, or $5.49 per diluted share. The company's fourth quarter adjusted net income was $1.1 billion, or $5.78 per diluted share.
Achieved record fourth quarter net sales of $5.3 billion.
Reported record fourth quarter net income of $1.1 billion, or $5.49 per diluted share.
Steel operations achieved record operating income of $1.4 billion.
Steel fabrication operations reported record operating income of $238 million.
Steel Dynamics
Steel Dynamics
Steel Dynamics Revenue by Segment
Revenue by Segment
Steel Operations Revenue
CapyFin.comSteel Fabrication Revenue
CapyFin.comMetals Recycling Revenue
CapyFin.com Forward Guidance
The market dynamics are in place for domestic steel consumption to further increase in 2022 when compared to 2021. North American steel consumption will experience steady growth, supported by the construction, automotive, and industrial sectors.
Positive Outlook
- Domestic steel demand fundamentals and customer confidence are strong.
- Construction sector is expected to remain strong.
- More severe supply chain challenges within the North American automotive sector will abate during 2022.
- Ramping up operations at new Texas steel mill with shipments around 2.0 million tons expected in 2022.
- Investing approximately $500 million to build four additional value-added flat roll steel coating lines.
Challenges Ahead
- Supply-chain and COVID challenges delayed the project by several weeks.
- Planned to be further along with commissioning the hot side of the steel mill.
- Commissioning and operating other aspects of the steel mill, including the rolling mill and two value-added finishing lines, ahead of the melting and casting operations.
- Full operations commencing before the end of February 2022.
- New Texas steel mill provide diversification and higher-margin product capabilities as existing flat roll steel divisions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income