Steel Mills
April 22, 2017
Correction: SDI Earnings for 1Q 2017
Written by John Packard
Correction: In last Thursday’s issue of Steel Market Update we mistakenly referenced earnings from a previous period instead of the 1Q 2017 report. Here is what Steel Dynamics had to say in their announcement on April 19, 2017:
FORT WAYNE, Ind., April 19, 2017 /PRNewswire/ — Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced first quarter 2017 financial results. The company reported first quarter 2017 net income of $201 million, or $0.82 per diluted share, with net sales of $2.4 billion. Comparatively, prior year first quarter net income was $63 million, or $0.26 per diluted share, with net sales of $1.7 billion. Sequential fourth quarter 2016 net income was $20 million, or $0.08 per diluted share, which included non-cash goodwill and asset impairment charges of $0.31 per diluted share and debt refinancing and repayment charges of $0.04 per diluted share. Excluding these items, the company’s adjusted fourth quarter 2016 net income was $106 million, or $0.43 per diluted share.
