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.
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.
Ternium released its Q1 results on Monday May, 5. EBITDA per ton was $198, which is quite good relative to its main North American peers. You can compare Ternium’s EBITDA and operating income per ton to other steel companies by checking out the Nerds of Steel earnings spreadsheet.
Today US Steel reported first quarter 2008 financial results. EBITDA per ton was $62, which is up from Q4 2007 but down from the 2007 average of $78. There were some special charges (inventory adjustments and a litigation reserve) which reduced reported operating income and EBITDA. Excluding these charges, EBITDA was $71 per ton, which is still below US Steel’s peers. To see how US Steel’s results compare to its peers, check out the Nerds of Steel Earnings spreadsheet.
A transcript of US Steel’s first quarter earnings conference call can be found here.
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