SDI Posts Record Q1, Results Exceed Expectations

Steel Dynamics Inc. (SDI) posted better-than-expected results for the first quarter of 2022. Earnings surpassed the consensus estimate by 8.1% while sales exceeded expectations by 5.5% to start the year, according to data from Zacks.

The Fort Wayne, Ind.-based steelmaker’s strong results came thanks to record steel shipments and increased production. The company said it sees strong demand for steel from the construction industry and the energy sector.

Construction

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

Latest in Steel Mills

ArcelorMittal plans new Calvert mill without JV partner

Raw Steel Production Edges Up Again: AISI

USW Gives Cliffs Its Right To Bid on U.S. Steel

U.S. Steel Gives USW Some Assurances in Sales Process

Analysts Weigh in on Potential Sale of U.S. Steel