Steel Dynamics Q3 net income $318M ($2.05 EPS), down from $577M a year ago

STEEL DYNAMICS INC

2024-Q3 EPS reported $8.46 revenue$13,668,252,000

Net sales $4.3B, net income $318M ($2.05 diluted EPS) vs $428M ($2.72) in Q2 2024 and $577M ($3.47) in Q3 2023.
Steel shipments 3.2M tons; steel ops operating income $305M, fabrication $166M, metals recycling $12M.
Cash flow from operations $760M; liquidity $3.1B; share repurchases $310M (1.6% of shares).
Adjusted EBITDA $557M; management expects steel pricing recovery with lower rates and infrastructure demand.
Aluminum flat-rolled mill construction on track to begin operations mid-2025.

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