Worthington Enterprises' profits edged down in its fiscal second quarter of 205 vs. a year earlier. The company said a slump in sales in the quarter was due largely to the "deconsolidation" of the Sustainable Energy Solutions segment in the fourth quarter of fiscal 2024.
Depressed demand and weak prices drove Worthington Steel’s second fiscal quarter results to a sequential decline.
Nucor cited decreased volumes and prices in it steel mills segment as the key driver of its lower guidance for the fourth quarter.
The Fort Wayne, Ind.-based steelmaker and metal recycler expects Q4'24 earnings guidance in the range of $1.26 to $1.30 per diluted share.
GrafTech International’s third-quarter net loss increased from last year, with the company anticipating continuing weakness in near-term demand for graphite electrodes.
ArcelorMittal’s earnings saw notable declines from a year earlier as the company said market conditions remain challenging.
Canada’s Algoma Steel swung to a steep loss in the quarter ended Sept. 30 on lower steel shipments, greater consumption of purchased coke, and weakening market conditions.
Luxembourg-based Ternium achieved record-high sales volumes in Mexico in the third quarter, reaching key milestones at its Pesqueria industrial center, the largest project in the Latin American steelmaker's history.
Northwest Pipe’s third-quarter earnings jumped over 76% on-year as the company expects a strong finish to 2024.
Cleveland-Cliffs swung to a steep loss in the third quarter. However, it touted the recent closing of its acquisition of Stelco in its quarterly earnings report released on Monday and said steel demand should bounce back early next year.
Olympic Steel remained profitable in the third quarter despite strong economic headwinds and pricing pressure across the steel industry.
U.S. Steel said it has produced its first coil at the Big River 2 facility in Osceola., Ark., as the company reported lower profits on-year in the third quarter of 2024.
A strong performance from its logistics segment drove SunCoke Energy’s results higher in the third quarter.
Ryerson swung to a loss in Q3 as it navigated a "contractionary" environment in industrial metals and manufacturing.
Australia’s BlueScope Steel has lowered its earnings guidance due to challenging conditions in the global steel industry.
Reliance Inc. reported a fall in third-quarter earnings, exacerbated by near-term election and demand uncertainty. With little relief expected through the end-of-year holidays, North America's largest metals service center group is looking ahead to better days in 2025.
Swedish steelmaker SSAB said its weaker third-quarter financial performance was due to muted demand, planned maintenance outages, and the continued decline of US plate prices.
Nucor's profits dropped precipitously in the third quarter on lower prices in its steel mills segment as the company expects a continued earnings slide for Q4'24.
CMC Fourth quarter ended Aug. 31 2024 2023 Change Net sales $1,996.1 $2,209.2 -9.6% Net income (loss) $103.9 $184.2 -43.6% Per diluted share $0.90 $1.56 -42.3% Full year ended Aug. 31 Net sales $7,925.9 $8,799.5 -9.9% Net income (loss) $485.5 $859.7 -43.5% Per diluted share $4.14 $7.25 -42.9% (in millions of dollars except per share) […]
Steel Dynamics Inc. (SDI) reported a drop in third-quarter profits driven largely by lower flat-rolled steel prices. The Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker also saw scrap prices slip. That happened because of softer demand from domestic mills taking planned maintenance outages.
Canadian flat-rolled steelmaker Algoma predicts that it will be roughly breakeven on an adjusted EBITDA basis in the second quarter of its fiscal year. The Sault Ste. Marie, Ontario-based company expects adjusted EBIDTA in a range from a gain of $5 million CAD ($3.7 million USD) to a loss of $5 million CAD in fiscal Q2'25.
Worthington Steel’s earnings tumbled in its fiscal first quarter of 2025. The company cited a drop in selling prices and tons sold for the sales dip for the three months ended Aug. 31.
U.S. Steel expects third-quarter adjusted earnings of approximately $300 million, according to figures released on Thursday. The Pittsburgh-based steelmaker said the result was in line with prior guidance and came despite “challenging pricing dynamics.” The company also said the third quarter likely reflected a “bottoming steel price environment.”
Nucor blamed lower steel prices for weaker third-quarter results in earnings guidance released on Tuesday.
Despite this summer’s “challenging near-term pricing and uncertain macroeconomic conditions,” Algoma Steel CEO Michael Garcia said the company is focusing on what it can control: operating safely, providing exceptional customer service, and successfully executing its capital programs.
Friedman Industries reported positive earnings in its 2024 fiscal first quarter ended June 30.
The company is in the process of being acquired by Cleveland-Cliffs in a deal valued at USD$2.5 billion.
SunCoke Energy Inc.’s earnings improved in the second quarter, with the company citing strong performances in its coke-making and logistics segments.
Nearly 1,200 people have registered for SMU Steel Summit, which is less than a month away now. That means we’re still on pace to meet or exceed last year’s record attendance despite a tough flat-rolled steel market over the last few months. So, a big thank you to everyone who already plans to go for your continued support. If you haven’t booked travel yet, don’t miss out on one of the greatest shows in steel – register here. (You can also check out the latest agenda here.)
GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.