Steel Mills
April 30, 2019
SSAB Americas Posts Record Profit in Q1 2019
Written by Sandy Williams
SSAB Americas was a strong contributor for SSAB’s global steel business in the first quarter of 2019. The Americas segment turned in a solid performance with an EBITDA margin of 23 percent and record profit of $129 million due to higher steel prices. Sales increased 45 percent from the first quarter of 2018 to $3.363 billion, the company reported.
Shipments were slightly lower in the quarter due to severe weather impacts for the Montpelier, Iowa, facility. A week of winter storms and minus 50 degree windchills in January caused shipping disruptions to truck and rail. Steel service centers were somewhat cautious with buying patterns in the first quarter, said SSAB executives.
