Commercial Metals Company (CMC) reported net earnings of $34.9 million for its fourth quarter ending August 31, 2014. Net sales increased 12 percent year over year to $1.9 billion. For the full fiscal year 2014, net earnings were 115.6 million on net sales of 7 billion. In comparison, FY 2013 net earnings were 77.3 million […] The post CMC Profits Double in FY 2014 appeared first on Steel Market Update.
Steel Dynamics reported solid earnings on Monday with Q4 2013 net income of $55 million on net sales of $1.9 billion, somewhat short of Q4 2012 net income of $61 million on sales of $1.7 billion. Full year income was $189 million, up from $164 million in 2012. Net sales for the year totaled $7.4 […] The post SDI Reports Solid Earnings appeared first on Steel Market Update.
Schnitzer Steel Industries, a metals recycling business, reported an adjusted net loss of $5 million during the first quarter 2014, ending Nov. 30, 2013, compared to adjusted net losses of $14 million the previous quarter and $1 million a year ago. Losses reflected soft ferrous scrap prices early in the quarter and restructuring costs. “All […] The post Schnitzer Sees Domestic Scrap Shipments Outpacing Exports appeared first on Steel Market Update.
Commercial Metals Company (CMC) posted net earnings of $45.9 million on net sales of $1.7 billion for its first quarter of fiscal year 2014 ending on November 30, 2013. This compares with net earnings of $49.7 million on a similar net sale amount of $1.7 billion for the same period in FY 2013. Results included […] The post CMC Earnings Improve over Previous Quarter appeared first on Steel Market Update.
A Christmas Eve start-up of the Nucor direct reduced iron (DRI) facility in St. Louis Parish, Louisiana, came off without a hitch. Within 24 hours the output quality matched best-in-class levels of Nucor’s Trinidad plant, said the company. “We are very pleased to announce this important step in executing our raw materials strategy,” said John […] The post Nucor DRI Start-up Successful appeared first on Steel Market Update.
Commercial Metals Company reported earnings of $4.1 million on net sales of $1.7 billion for its FY 2013 fourth quarter (ending August 31, 2013). Net earnings included an asset impairment charge of $25.9 million related to its Australian operation. In comparison, CMC reported net earnings of $30.2 million in fourth quarter 2012. CMC net earnings […] The post CMC Reports 8th Consecutive Quarter of Positive Earnings appeared first on Steel Market Update.
Sims Metal Management, a metals and electronics recycler headquartered in Australia, announced North American results for FY 2013 ending June 30, 2013. Underlying EBITDA for North American operations rose 30 percent year-over-year to $102.3 million. (Underlying EBITDA is a measure of the actual profits realized by a company used for business process planning, rather than […] The post Sims Reports Lower Results for FY 2013 appeared first on Steel Market Update.
Written by: Sandy Williams Commercial Metals Company announced first quarter net earnings ending November 30, 2012, of $49.7 million, down from $107.7 million at the end of November 2011. Results were partially attributed to a drop in profit from CMC’s Americas Recycling segment which saw lower demand that affected ferrous and nonferrous pricing and volumes. […] The post Commercial Metals Sees Drop in Q1 Earnings appeared first on Steel Market Update.