Upbeat Outlook at Steel Dynamics

Steel Dynamics Inc. turned in a remarkable fourth quarter and 2020 results despite a year fraught with challenges from the COVID-19 pandemic. SDI posted its second highest record for yearly steel shipments at 10.7 million tons. The company’s fabrication platform shipped a record 666,000 tons. Metals recycling posted operating income of $45 million in 2020 compared to $28 million in 2019.

“The team delivered a tremendous operational and financial performance during 2020 within an unprecedented health and economic crisis, achieving strong net sales of $9.6 billion, operating income of $847 million, and adjusted EBITDA of $1.2 billion,” said President and CEO Mark Millett. “Numerous individual operating and financial records were also attained during the year–an amazing achievement during a period in which many steel consuming businesses were temporarily idled or severely impacted by the social and economic effects of the coronavirus pandemic.”