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Dec 31, 2022
Steel Dynamics Q4 2022 Earnings Report
Reported fourth quarter and record annual 2022 results.
Key Takeaways
Steel Dynamics reported fourth quarter 2022 net sales of $4.8 billion and net income of $635 million, or $3.61 per diluted share. Excluding certain items, the company’s fourth quarter adjusted net income was $769 million, or $4.37 per diluted share.
Achieved record net sales of $22.3 billion, operating income of $5.1 billion, and adjusted EBITDA of $5.5 billion in 2022.
Steel operations achieved record 2022 annual shipments of 12.2 million tons and its second highest annual operating income of $3.1 billion.
Steel fabrication business achieved record annual shipments of 856,000 tons and record 2022 operating income of $2.4 billion.
Company ended the year with record liquidity of $3.4 billion.
Revenue by Segment
Forward Guidance
Steel Dynamics is in a position of strength as we enter 2023. We are ramping up operations at our new state-of-the-art electric arc furnace flat rolled steel mill located in Texas. We believe North American steel consumption will increase in 2023, and that demand for lower-carbon emission, U.S. produced steel products coupled with lower imports will support steel pricing.
Positive Outlook
- Customer order entry activity continues to be healthy across our businesses.
- Steel pricing has firmed, and our order activity and backlogs remain solid.
- North American steel consumption will increase in 2023.
- Demand for lower-carbon emission, U.S. produced steel products coupled with lower imports will support steel pricing.
- Steel fabrication operation’s order backlog also remains historically strong based on volume and forward pricing levels reaching past the first half of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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