— Steel Dynamics, Inc. (NASDAQ: STLD) reported adjusted earnings of $0.62 per share for the fourth quarter of 2019, vs. $0.66 per share expected.
— Net income dropped to $121.4 million or $0.56 per share from $270 million or $1.18 per share in the fourth quarter of 2018
— Net sales decreased by 18% to $2.37 billion during the three-month period from $2.90 billion last year, vs. $2.47 billion expected
— Operating income from steel operations dropped 16% sequentially to $201 million, based on two planned steel mill outages
— Completed significant planned maintenance outages at Butler and Columbus Flat Roll divisions
— Average external product selling price for steel operations decreased sequentially to $764 per ton
— Generated strong Q4 cash flow from operations of $409 million and executed inaugural investment grade notes offering
