SDI Steel Shipments Scaled New High in 2019

During 2019, the company reported record steel shipments of 10.8 million tons.

SEATTLE (Scrap Monster): Fort Wayne, Indiana-headquartered Steel Dynamics, Inc. (SDI) announced fourth quarter and full-year 2019 results.

The company’s operating income from steel operations totalled $201 million in Q4 last year, significantly lower by 16% compared to sequential Q3 results. The operating income from steel fabrication business was $33 million. SDI generated strong Q4 cash flow from operations of $409 million.

During 2019, the company reported record steel shipments of 10.8 million tons. The steel fabrication shipments too hit a record of 644,000 tons. The year witnessed company’s second-best net sales of $10.5 billion. The operating income totalled $987 million, whereas the net income was $671 million. SDI reported cash flow from operations of $1.4 billion in 2019. The metals recycling operations earning at $28 million in 2019 was much lower when compared to $88 million in 2018. Meantime, the fabrication operations achieved record shipments during the year.

Mark D. Millet, President and Chief Executive Officer commented that the company delivered a strong 2019 operational and financial performance in the midst of a challenging steel price environment. Further, he noted that North American steel consumption is likely to witness modest growth in 2020.

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