Steel Dynamics, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2017
January 22, 2018
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Steel Dynamics, Inc. reported unaudited consolidated earnings and operating results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net sales of $2,336.479 million against $1,910.596 million a year ago. Operating income was $195.947 million against $56.024 million a year ago. Income before income taxes was $161.352 million against $2.820 million a year ago. Net income attributable to the company was $304.733 million or $1.28 per diluted share, including the effect of assumed conversions when dilutive against $20.012 million or $3.36 per diluted share, including the effect of assumed conversions when dilutive a year ago. Net cash provided by operating activities was $192.001 million against $207.407 million a year ago. Purchases of property, plant and equipment was $37.189 million against $74.992 million a year ago. Adjusted operating income was $195.947 million against $188.863 million a year ago. EBITDA was $265.437 million against $125.357 million a year ago. Adjusted EBITDA was $285.838 million against $258.305 million a year ago.
For the year, the company reported net sales of $9,538.797 million against $7,777.109 million a year ago. Operating income was $1,066.881 million against $727.966 million a year ago. Income before income taxes was $935.235 million against $564.133 million a year ago. Net income attributable to the company was $812.741 million or $3.36 per diluted share, including the effect of assumed conversions when dilutive against $382.115 million or $1.56 per diluted share, including the effect of assumed conversions when dilutive a year ago. Net cash provided by operating activities was $739.606 million against $852.769 million a year ago. Purchases of property, plant and equipment was $164.935 million against $198.160 million a year ago. Adjusted operating income was $1,066.881 million against $860.805 million a year ago. EBITDA was $1,359.940 million against $1,017.436 million a year ago. Adjusted EBITDA was $1,404.778 million against $1,172.004 million a year ago.
For the quarter, the company reported steel production of 2,437,851 tons against 2,237,200 tons a year ago. Metals Recycling external ferrous shipments were 429,512 gross tons against 446,232 gross tons a year ago. Fabrication shipments were 165,338 Tons against 132,186 Tons a year ago.
For the year, the company reported steel production of 9,995,082 tons against 9,503,465 tons a year ago. Metals Recycling external ferrous shipments were 1,844,115 gross tons against 1,957,764 gross tons a year ago. Fabrication shipments were 627,274 Tons against 562,725 Tons a year ago.
Steel Dynamics, Inc. specializes in the manufacturing and marketing of carbon steel products. Net sales (including intragroup) break down by activity as follows:
- sale of steel products (66.2%): hot and cold rolled flat steel products, coated plates, beams, long commercial steels, rails, special profiles, etc.;
- treatment and processing of steel and metal scrap (21.3%);
- production of steel components for the non-residential construction industry (8%): frames, beams, joists, pilings, etc.;
- other (4.5%).