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.
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.
ArcelorMittal reported its Q1 2008 earnings today achieving $157/ton of EBITDA for the quarter, the same rate as Q4 2007. You can compare the EBITDA result against a number of other steel producers on the Nerds of Steel earnings spreadsheet. Or you can see the full set of company reports including video and audio of the webcast on the ArcelorMittal site.
Gerdau SA announced Q1 2008 earnings yesterday. EBITDA per ton was $203, up from an average of $170 in 2007. This is the best EBITDA per ton so far among the companies tracked in the Nerds of Steel earnings spreadsheet.
Today, Gerdau Ameristeel announced Q1 2008 earnings. EBITDA per ton was $152, up from an average of $125 in 2007. You can compare Gerdau Ameristeel’s operating performance with its competitors on the Nerds of Steel earnings spreadsheet.
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