Steel Mills
October 14, 2017
JSW USA Doubles Quarter's Sales
Written by Sandy Williams
JSW Steel USA’s first-quarter FY 2018 sales more than doubled from a year ago. Revenue from operations totaled $58.67 million compared to $25.26 million in Q1 FY 2017. EBITDA was positive at $5.1 million after a loss of $5.45 million in last year’s corresponding quarter.
The plate mill at the Baytown, Texas, facility produced 65,491 net tons compared to 37,869 tons in the prior year first quarter for a jump in capacity utilization rate to 28 percent from 16 percent. Sales for the quarter jumped to 52,410 tons from 27,542 tons.
