Steel Mills
June 16, 2021
Nucor, SDI Issue Record Earnings Guidance; USS Strong Too
Written by Sandy Williams
It is a good time to be a steel producer. Both Steel Dynamics and Nucor are expecting record earnings for the second quarter of 2021 supported by strong demand and unprecedented steel prices. And U.S. Steel expects second quarter adjusted EBITDA more than double that in the first.
SDI expects earnings to be in the range of $3.26 to $3.30 per diluted share. Excluding costs of $23 million associated with construction of the Sinton Flat Roll steel mill, adjusted earnings would be in the range of $3.34 to $3.38 per diluted share—a record for quarterly earnings. In comparison, adjusted earnings in the first quarter were $2.10 per diluted share and in the prior year second quarter just $0.47 per share.
