NASDAQ$STLD
Steel Dynamics Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Reported a solid performance amidst the coronavirus pandemic, driven by strong domestic steel demand recovery and operational excellence.
Steel Dynamics reported Q3 2020 net sales of $2.3 billion and net income of $100 million, or $0.47 per diluted share. Excluding certain items, adjusted net income was $108 million, or $0.51 per diluted share. The company benefited from a strong recovery in domestic steel demand, particularly in the automotive sector, and resilient construction activity.
- Steel mills operated at 85% of production capability, with flat roll group achieving 99%.
- Steel fabrication operations achieved record quarterly operating income of $39 million.
- Metals recycling operations saw improved operating income of $15 million, compared to a loss in the previous quarter.
- The company expects continued price strength and customer demand throughout 2020 and into 2021.
Headline financials
Revenue & EPS history
Steel Dynamics · Revenue · Quarterly
$2.33B
Revenue by segment
Steel Dynamics · $1.21B total across 3 segments · Q2 2023
- Steel Operations$706M-35.8%58.4%
- Steel Fabrication$462M-22.9%38.2%
- Metals Recycling$40M-31.0%3.3%
Forward guidance
Steel Dynamics anticipates continued price strength and customer demand throughout 2020 and into 2021, driven by a solid recovery in domestic steel demand, particularly in the automotive and construction sectors. The company's new Texas steel mill project remains on track, with operations expected to commence mid-year 2021.
Tailwinds
- Continued price strength in the steel market.
- Strong customer demand expected throughout 2020 and into 2021.
- Solid recovery in domestic steel demand.
- Automotive sector showing the strongest improvement.
- Construction sector remains resilient.
Headwinds
- Domestic economy is recovering from the shock of COVID-19.
- It is still difficult to know the full extent of its eventual impact.
- Energy remains the weakest end market.
- Steel service center inventories were extremely low and still remain low compared to historical norms.
- Uncertainty related to the full impact of COVID-19 on the economy.
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 Q3 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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