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Tony Taccone

A strategy consultant to steel companies for 20 years and a founding partner of First River Consulting, a strategy consulting boutique. Follows the steel industry globally and proudly admits to being a steel nerd.

Posts by Tony Taccone

Q3 2018 earnings

October 29, 2018

US mills have started reporting Q3 2018 earnings and in most cases EBITDA per ton shipped is higher than in Q2. One exception was CMC, whose EBITDA per ton dropped from $89 to $84. The other mills all reported higher EBITDA per ton: AK $119 to $131, Nucor $171 to $196, SSAB $144 to $158, […]

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AK, ArcelorMittal, Ternium, & US Steel announce Q2 earnings

August 7, 2018

Steel companies recently reporting Q2 earnings all showed improved EBITDA per ton, continuing the industry trend. As can be seen in the chart below, 7 of 10 companies reported EBITDA per ton above $100 in Q2, up from 4 of 10 companies in Q1. Two companies (Ternium and Steel Dynamics) generated over $200 per ton […]

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Q2 2018 earnings for CMC, Nucor, SDI, SSAB & TimkenSteel

July 30, 2018

Mills are starting to release Q2 2018 earnings and the results are coming in strong. All mills saw an increase in EBITDA in Q2 per ton relative to Q1. CMC saw EBITDA per ton rise to $89 from $63 in the previous quarter. Nucor went from $116 to $173, SSAB from $109 to $144, Steel […]

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More Q1 2018 financial results

April 30, 2018

Q1 2018 financial results for five companies have been added to the Nerds of Steel earnings spreadsheet. The companies we added and the Q1 2018 EBITDA/ton for each are shown below. CMC: $63, down from $74 in Q4 2017 SSAB: $109, up from $77 in Q4 Ternium: $171, up from $127 in Q4 TimkenSteel: $50, […]

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Q1 2018 financial results for Nucor and Steel Dynamics

April 20, 2018

Nucor and Steel Dynamics announced Q1 2018 earnings this week and both companies posted strong EBITDA per ton. Nucor’s EBITDA per ton rose to $116 from $94 in Q4 last year, while Steel Dynamics rsoe to $158 from $115.

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BlueScope and Ternium Q4 2017 EBITDA/ton

February 27, 2018

BlueScope and Ternium recently released Q4 2017 financial results. North Star BlueScope reported EBITDA/ton of $118 in the second half of the year, down from $142 in the first half. Ternium reported $148 per ton for Q4 and $151 for the full year 2017. We are still awaiting results from Gerdau and AHMSA.

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