NASDAQ$STLD
Steel Dynamics Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported fourth quarter and record annual 2022 results.
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.
Headline financials
Revenue & EPS history
Steel Dynamics · Revenue · Quarterly
$4.83B
Revenue by segment
Steel Dynamics · $1.14B total across 2 segments · Q4 2022
- Steel Operations$1.12B-19.7%98.8%
- Metals Recycling$14M-68.2%1.2%
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.
Tailwinds
- 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.
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 Q4 2022
+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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