Nerds of Steel

AK Steel and Steel Dynamics reported Q2 results today. You can see AK’s results here and SDI’s results here.

Both companies reported EBITDA per ton of $168 for Q2. You can see the results and compare them to other companies by viewing the Nerds of Steel earnings spreadsheet.

Nucor announced Q2 2008 results today. EBITDA per ton was $185, up from $144 in Q1. Check it out in the Nerds of Steel earnings spreadsheet. The increase was a result of higher steel prices and the impact of the David J. Joseph acquisition in February 2008.

Nucor’s balance sheet improved markedly as a result of the recent share offering. At the end of Q2, the company had cash of $2.8 billion vs debt of $3.3 billion.

Here’s an update of the IISI’s list of the world’s largest steelmakers in 2007 in a form you can do something with. The data on the 2006 tab is from Metal Bulletin and has their list for 2005.

As if in response to point 5 of this article on how to respond to high steel prices, ArcelorMittal is putting money into a venture capital fund investing in clean technologies in addition to establishing a carbon fund to generate carbon credits that will help in complying with the EU Emissions Trading Scheme.

The venture capital fund is making an initial investment in thin-film solar panels developer Miasolé.

Severstal North America’s Q1 2008 financial results have been added to the Nerds of Steel earnings spreadsheet. SNA had EBITDA per ton of $171 in Q1 2008 up from $39 in Q1 2007. However, this result includes a $156 million gain from the buyout of a long term electricity supply contract. Without the one-off gain, EBITDA per ton was ($6). The Q1 2008 results also include SeverCorr, which shipped over 300,000 tons in the most recent quarter.