Steel Mills
July 22, 2014
SDI Sales and Earnings Rise in Q2
Written by Sandy Williams
Steel Dynamics announced net income of $72 million in second quarter 2014 on net sales of $2.1 billion. In comparison, second quarter 2013 net income was $29 million and sequential quarter net income was $39 million. Sales were 13 percent higher both year over year and sequentially. All reporting segments showed higher profitability after the negative weather impact of the first quarter.
Quarterly steel shipments were at record levels. Sheet steel shipments were up 21 percent, structural beam 14 percent, and rail 22 percent compared to Q1 2014. Total steel shipments for Q2 2014 were 1.678 million tons. Production for second quarter totaled 1.7 million tons. Average price per ton for the quarter was $833. The steel mill utilization rate improved by 9 percent across all of SDI’s mills.
