NASDAQ$STLD
Steel Dynamics Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported strong first quarter performance despite challenging market conditions, achieving record steel shipments.
Steel Dynamics reported a strong first quarter 2020 performance with net sales of $2.6 billion and net income of $187 million, or $0.88 per diluted share. The company achieved record quarterly steel shipments, driven by solid underlying steel demand and value-added product capabilities.
- Achieved record quarterly steel shipments.
- Consolidated operating income was $274 million with adjusted EBITDA of $356 million.
- Generated strong cash flow from operations of $211 million and maintained strong liquidity of over $2.6 billion.
- Repurchased $107 million of common stock during the first quarter of 2020.
Headline financials
Revenue & EPS history
Steel Dynamics · Revenue · Quarterly
$2.58B
Revenue by segment
Steel Dynamics · $7.8B total across 3 segments · Q1 2020
- Steel Operations$2.6B—33.3%
- Steel Fabrication$2.6B—33.3%
- Metals Recycling$2.6B—33.3%
Forward guidance
The full scope of the negative impact of COVID-19 on global economies and domestic steel demand is still uncertain. The company believes steel demand will likely respond quickly when states begin to "re-open".
Tailwinds
- The company entered the crisis in a position of strength with ample cash and available liquidity.
- The company's differentiated business model and performance-driven culture has proven its ability to generate strong cash flow during challenging times.
- Construction is the largest single domestic steel consuming sector and remains intact.
- Steel order activity from construction customers is strong.
- The steel fabrication order backlog is strong.
Headwinds
- The full scope of the negative impact COVID-19 will cause to global economies and the related impact to domestic steel demand is still uncertain.
- Domestic steel orders related to certain sectors have slowed considerably due to the temporary closures of numerous steel consuming businesses.
- The temporary closure of domestic automotive production and its related supply chain have reduced flat roll steel demand.
- Weakness in the energy sector has reduced flat roll steel demand.
- Some construction projects have been disrupted or postponed.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+0.4%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+4.7%
Avg return
30 days after
56%
40 / 72 earnings
Positive
+16.7%
Q2 2014
Best reaction
-12.1%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -4.3% | +8.3% | +8.9% | |
| Q1 2026 | +0.2% | +2.2% | +9.0% | |
| Q3 2025 | +5.1% | +4.6% | +4.7% | |
| Q2 2025 | -0.8% | -1.6% | +2.5% | |
| Q1 2025 | +4.3% | +9.0% | +6.8% | |
| Q4 2024 | -0.4% | +3.4% | +6.4% | |
| Q3 2024 | +5.1% | +3.9% | +8.5% | |
| Q2 2024 | -2.7% | -3.7% | -12.1% | |
| Q1 2024 | -5.4% | -2.4% | -2.7% | |
| Q4 2023 | +1.0% | +0.5% | +8.1% | |
| Q3 2023 | -7.1% | -7.5% | +3.9% | |
| Q2 2023 | -6.0% | -6.2% | -3.2% | |
| Q1 2023 | +3.7% | +1.4% | -9.7% | |
| Q4 2022 | +12.4% | +10.2% | +9.7% | |
| Q3 2022 | +4.8% | +17.8% | +23.1% | |
| Q2 2022 | +6.2% | +5.1% | +22.8% | |
| Q1 2022 | +1.4% | -2.9% | -17.5% | |
| Q4 2021 | +3.2% | +4.7% | +18.5% | |
| Q3 2021 | +2.6% | +2.6% | +1.7% | |
| Q2 2021 | -1.3% | -1.3% | +15.6% | |
| Q1 2021 | -2.7% | +0.8% | +20.8% | |
| Q4 2020 | -5.4% | -11.4% | +13.3% | |
| Q3 2020 | -4.5% | -2.4% | +6.7% | |
| Q2 2020 | +0.9% | +3.8% | +12.5% | |
| Q1 2020 | -5.3% | +0.3% | +4.9% | |
| Q4 2019 | -0.9% | -4.9% | -7.0% | |
| Q3 2019 | -4.6% | -4.9% | +5.8% | |
| Q2 2019 | +2.0% | +3.6% | -11.6% | |
| Q1 2019 | -3.4% | -7.0% | -14.5% | |
| Q4 2018 | +1.5% | +3.3% | +12.5% | |
| Q3 2018 | +2.6% | +3.1% | -1.4% | |
| Q2 2018 | +4.6% | +2.2% | -3.6% | |
| Q1 2018 | +1.7% | -1.3% | +9.8% | |
| Q4 2017 | -0.1% | +2.3% | +3.7% | |
| Q3 2017 | +4.5% | +7.4% | +1.9% | |
| Q2 2017 | +3.3% | +2.8% | -6.1% | |
| Q1 2017 | +6.9% | +12.1% | +4.7% | |
| Q4 2016 | -4.6% | +2.1% | +0.1% | |
| Q3 2016 | +9.6% | +7.4% | +37.7% | |
| Q2 2016 | -3.6% | -5.3% | -8.8% | |
| Q1 2016 | +0.4% | — | — | |
| Q4 2015 | +4.5% | — | — | |
| Q3 2015 | -5.8% | — | — | |
| Q2 2015 | +1.1% | — | — | |
| Q1 2015 | +4.1% | — | — | |
| Q4 2014 | -4.2% | — | — | |
| Q3 2014 | +4.0% | — | — | |
| Q2 2014 | +16.7% | — | — | |
| Q1 2014 | -4.6% | — | — | |
| Q4 2013 | -0.6% | — | — | |
| Q3 2013 | +3.9% | — | — | |
| Q2 2013 | -0.1% | — | — | |
| Q1 2013 | -1.4% | — | — | |
| Q4 2012 | +1.2% | — | — | |
| Q3 2012 | +4.5% | — | — | |
| Q2 2012 | +0.6% | — | — | |
| Q1 2012 | +2.2% | — | — | |
| Q4 2011 | +2.0% | — | — | |
| Q4 2010 | +2.0% | — | — | |
| Q3 2011 | -4.2% | — | — | |
| Q2 2011 | -12.1% | — | — | |
| Q1 2011 | -2.0% | — | — | |
| Q3 2010 | +1.4% | — | — | |
| Q2 2010 | +2.5% | — | — | |
| Q1 2010 | +1.4% | — | — | |
| Q4 2007 | -3.8% | — | — | |
| Q4 2009 | -3.8% | — | — | |
| Q3 2009 | +1.1% | — | — | |
| Q3 2008 | +1.1% | — | — | |
| Q2 2009 | -2.8% | — | — | |
| Q4 2008 | -2.8% | — | — | |
| Q2 2008 | -2.8% | — | — |
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