MMK’s New Steel International Final EPA Permits

by James Moss on May 7, 2008

in Environment,Producers

MMK’s planned steel mill in southern Ohio just received final permits from the Ohio EPA. You will be able to see the permits (though they’re not yet online) at the Ohio EPA site. A number of other application documents were linked to from this post back in February.

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US Steel Q1 earnings

by Tony Taccone on April 29, 2008

in Data,Finance,Producers

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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AK Steel Q1 2008 earnings

by Tony Taccone on April 22, 2008

in Data,Finance

AK Steel announced earnings today. EBITDA per ton was $142 in Q1, which beat AK’s 2007 average of $129. The company guided towards higher margins in Q2, with operating income per ton expected to hit a record level of $125. This implies Q2 EBITDA per ton close to $160. Check out AK’s results along with those of its steel industry peers on the Nerds of Steel earnings spreadsheet.

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Steel Dynamics Q1 2008 earnings

by Tony Taccone on April 22, 2008

in Data,Finance

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.

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Nucor first quarter 2008 earnings

by Tony Taccone on April 17, 2008

in Data,Finance

Nucor today announced earnings for Q1 2008. EBITDA per ton was $144, up from an average of $130 per ton in 2007. See our EBITDA per ton calculations on the Nerds of Steel earnings spreadsheet. In its press release Nucor indicated that second quarter net income per share would be in the range of $1.55 to $1.60 up from $1.41 per share in Q1. This suggests that Q2 EBITDA will be over $150 per ton.

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US long products imports decline from January and February levels

by Jessica Wagner on April 17, 2008

in Data,Geography

US long products imports will continue to decline in March. Long products import licenses continued their decline to 257,000 short tons in March, compared to February import actuals of 330,000 tons and January actuals of 385,000 tons. Rebar licenses led this decline with March import licenses at 77,000 tons compared to February actuals of 119,000 tons. Parallel Flange Sections imports appear to be returning to lower levels achieved in early 2007 with March licenses at 27,000 tons compared to February’s actuals of 69,000 tons.

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