Steel Dynamics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 19, 2022 at 04:30 pm EDT
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Steel Dynamics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 5,651.71 million compared to USD 5,088.29 million a year ago. Net income was USD 914.33 million compared to USD 990.76 million a year ago. Basic earnings per share from continuing operations was USD 5.07 compared to USD 4.89 a year ago. Diluted earnings per share from continuing operations was USD 5.03 compared to USD 4.85 a year ago.
For the nine months, sales was USD 17,434.49 million compared to USD 13,098.19 million a year ago. Net income was USD 3,227.81 million compared to USD 2,123.56 million a year ago. Basic earnings per share from continuing operations was USD 17.33 compared to USD 10.22 a year ago. Diluted earnings per share from continuing operations was USD 17.21 compared to USD 10.15 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%).