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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

ArcelorMittal, Gerdau, and Ternium Q3 earnings

November 9, 2016

Rounding out Q3 earnings, we now have results from ArcelorMittal, Gerdau, and Ternium. ArcelorMittal’s EBITDA per ton was basically unchanged at $78 in Q3 vs. $77 in Q2. Gerdau reported a slight improvement in EBITDA per ton (to $89 from $77) on lower shipments, while Ternium saw a big jump in EBITDA per ton, from […]

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More Q3 earnings (AHMSA, CMC, SSAB, TimkenSteel, US Steel)

November 2, 2016

More third quarter earnings have been released and we’ve updated the Nerds of Steel earnings spreadsheet, which holds the data behind the chart that appears below. Among recently reporting companies, three achieved better EBITDA per ton in Q3 vs. Q2 and two companies saw a deterioration in financial performance. Improvements were posted by AHMSA, which […]

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AK Steel, Nucor, and Steel Dynamics Q3 earnings

October 26, 2016

Third quarter earnings season has begun and we have results from AK Steel, Nucor, and Steel Dynamics. All three companies announced higher EBITDA per ton in Q3 relative to Q2. AK’s EBITDA per ton rose from $78 to $132, Nucor’s jumped to $120 from $97, and Steel Dynamics led the pack with EBITDA of $159 […]

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Gerdau Q2 results and EBITDA per ton

August 11, 2016

Gerdau recently released Q2 financial results. The company reported EBITDA per ton of $77, up from $59 in Q1. Gerdau’s $77 of EBITDA per ton was in the middle of the pack and very close to the $80 Q2 average of the companies we track in the Nerds of Steel earning spreadsheet.

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AHMSA and Ternium Q2 results and EBIDTA per ton

August 3, 2016

AHMSA and Ternium recently released Q2 2016 financial results. Consistent with other mills we follow, both companies reported improved EBITDA per ton in the second quarter as compared to the first quarter. AHMSA’s EBITDA per ton rose from $46 to $51, while Ternium saw an increase to $137 from $113.

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ArcelorMittal and TimkenSteel Q2 EBITDA per ton

August 1, 2016

In the chart below (and the spreadsheet behind the chart), we have added ArcelorMittal and TimkenSteel EBITDA and operating income for the second quarter of 2016. Both companies reported better performance in the second quarter as compared to Q1, continuing the improving trend we’ve seen among the companies we track. ArcelorMittal’s EBITDA per ton rose […]

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