Steel Dynamics Posts Record Operating Income

Steel Dynamics reported net sales of $3.1 billion and net income of $362 million for the second quarter of 2018, more than doubling its year-over-year income. First-quarter 2018 net sales totaled $2.6 billion with net income of $228 million.

“Our second-quarter 2018 income from operations increased 55 percent sequentially to a record $502 million, and adjusted EBITDA increased to a record $590 million,” said President and CEO Mark Millett. “During the second quarter, we saw improved demand and product pricing across the entire steel platform, resulting in record quarterly steel shipments and significant margin expansion.”