Nerds of Steel

Today, Steel Dynamics announced first quarter earnings. EBITDA was $191 per ton, well above the 2007 average of $135. You can see the results and compare them to Steel Dynamic’s industry peers by checking out the Nerds of Steel earnings spreadsheet.

This year’s results include the EBITDA generated by STLD’s recent acquisition, Omnisource. We decided to include the Omnisource results in the calculation of EBITDA per ton of steel shipments to keep SDI’s results comparable to Nucor’s. Nucor doesn’t break out earnings by segment, at least not yet. So their cash flow from operations (EBITDA) includes the results from the recent acquisition of David J. Joseph, although I don’t believe the impact to Nucor was significant in the first quarter.

The NoS quarterly financials spreadsheet has been updated to include Steel Dynamics fourth quarter and full year results.

This is the Steel Dynamics Q3 conference call file.

Here are the Steel Dynamics files relating to the Omnisource scrap processor acquisition. There’s a PDF file: SDI-Omnisource and there’s an audio file from the conference call on October 2, 2007.

It’s a full hour: SDI’s OMNISOURCE Acquisition Podcast