Steel Mills
April 20, 2017
Steel Dynamics CEO Thinks Market Will Support “Good Prices”
Written by John Packard
This morning Steel Dynamics (SDI) conducted their earnings conference call with analysts where they discussed their 1Q earnings and how they see the steel markets shaping up in the coming months. During the call, CEO Mark Millet told the analysts that the market will support “good prices” for the steel mills and he was not concerned with foreign imports or what Chinese hot rolled is selling for today.
SDI reported net income of $63 million on revenues of $1.7 billion. Operating income for the quarter was $132 million, a result of increased shipments from their steel operations. This is an improvement over their 4th Quarter earnings of $47 million. Shipments increased 17 percent to 2.3 million tons with the most significant improvements coming in flat rolled.
