Steel Dynamics Inc 2025年第三季度报告

Steel Dynamics Reports Second Quarter 2025Results Steel Dynamics (PRNewsfoto/Steel Dynamics, Inc.) Second Quarter 2025 Performance Highlights: Steel shipments of 3.3 million tons dueJune 2025 Share repurchases of$200 millionof the company’s common stock, representing 1.1percent of its outstanding shares Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced second quarter 2025 financial results. The company reported second quarter 2025 net sales of$4.6 billionand net income of$299 million, or$2.01per diluted share. Comparatively, the company’s sequential first quarter net income was$428 million, or$2.72per diluted share. “During the second quarter 2025, steel pricing stabilized at higher levels, resulting in a significant sequential improvement in consolidated operating income of 39 percent andadjusted EBITDA of 19 percent,” saidMark D. Millett, Chairman and Chief Executive Officer.“The earnings improvement was driven by expanded margins across our steel platform and strategy. Across the company, our teams delivered a solid performance in an uncertain tradeenvironment while continuing to prioritize the safety and well-being of one another. Second quarter 2025 operating income for the company’s steel operations was$382 million, scrap raw material costs. The second quarter 2025 average external product selling price forthe company’s steel operations increased$136sequentially to$1,134per ton. The averageferrous scrap cost per ton melted at the company’s steel mills increased$22sequentially to$408per ton. Flat rolled steel pricing rebounded in March and continued to improve from the production was limited by its supplier for over 65 days, negatively impacting volume by an estimated 55,000 tons in the second quarter. Full access to the required oxygen has beenrestored. Ongoing initiatives focused on value-added product quality and cost efficiencycontinue to gain traction atSinton, providing a clear path to significantly higher profitability inthe second half of the year. Second quarter 2025 earnings from the company’s steeloperations were also reduced by$32 milliondue to a noncash write-off of consumableassets. deck products, but also for flat rolled and long product steel. Based on the current marketenvironment, the company believes profitability from its steel fabrication operations reached For the six months endedJune 30, 2025, net income was$516 million, or$3.44per dilutedshare, with net sales of$8.9 billion, as compared to net income of$1.0 billion, or$6.39perdiluted share, with net sales of$9.3 billionfor the same period in 2024.First half 2025 net sales decreased four percent to$8.9 billionand operating incomedeclined 50 percent to$658 million, when compared to the same period in 2024. Decreased steel fabrication operations was$210 million, compared to$359 millionin the same prioryear period. common stock, representing 2.4 percent of its outstanding shares, while maintaining liquidityof$1.9 billion. Outlook “We remain confident that market factors are in place to support strong domestic steel andaluminum product consumption in the coming years, as the uncertainty concerning trade andtax policies is mitigated and the interest rate environment improves,” continued Millett.“Additionally, based on conversations with our customer base, we believe demand for lower- imports of these products would be a meaningful tailwind for us, as we are the largest non-automotive flat rolled steel coater inthe United States. We expect to receive final To date, this strategy has been focused primarily on the steel industry. However, many of ourflat rolled steel customers are also significant consumers and processors of aluminum flat rolled products. We are excited to expand and diversify our end markets by supplying aluminum flat rolled products with high recycled content-serving the counter-cyclical,sustainability-driven beverage can and packaging industry, as well as the automotive,industrial, and construction sectors. Our proven, performance-based operating culture- communities we serve, while meeting the evolving needs of our customers. Our culture andperformance-driven business model continue to positively differentiate our company. Weremain focused on delivering superior value to our team members, customers, and Steel Dynamics, Inc. will hold a conference call to discuss second quarter 2025 operatingand financial results onTuesday, July 22, 2025, at 11:00 a.m. Eastern Daylight Time. Youmay access the call and find dial-in information on the Investors section of the company’swebsite atwww.steeldynamics.com. A replay of the call will be available on our website until11:59 p.m. Eastern Daylight Time onJuly 29, 2025.About Steel Dynamics, Inc. Note Regarding Financial Metrics The company reports its financial results in accordance with U.S. generally acceptedaccounting principles (GAAP). Management believes that the non-GAAP financial measures company’s performance and financial strength. Non-GA