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    Market Segment

    April 22, 2017

    Correction: SDI Earnings for 1Q 2017

    Written by John Packard

    Correction: In last Thursday’s issue of Steel Market Update we mistakenly referenced earnings from a previous period instead of the 1Q 2017 report. Here is what Steel Dynamics had to say in their announcement on April 19, 2017:

    FORT WAYNE, Ind., April 19, 2017 /PRNewswire/ — Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced first quarter 2017 financial results.  The company reported first quarter 2017 net income of $201 million, or $0.82 per diluted share, with net sales of $2.4 billion.  Comparatively, prior year first quarter net income was $63 million, or $0.26 per diluted share, with net sales of $1.7 billion.  Sequential fourth quarter 2016 net income was $20 million, or $0.08 per diluted share, which included non-cash goodwill and asset impairment charges of $0.31 per diluted share and debt refinancing and repayment charges of $0.04 per diluted share.  Excluding these items, the company’s adjusted fourth quarter 2016 net income was $106 million, or $0.43 per diluted share.

    John Packard

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