Steel Dynamics (NASDAQ: STLD) reported Q4 EPS of $0.62, $0.07 better than the analyst estimate of $0.55. Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.34 billion.

Outlook:

"Based on domestic steel demand fundamentals, we are constructive regarding North American steel market dynamics," said Millett. "We believe North American steel consumption will experience modest growth and will be supported by further steel import reductions and the end of steel inventory destocking. We believe recent and possible trade actions could have a positive impact in further reducing unfairly traded steel imports into the United States, including coated flat roll steel, which could have a significant positive impact for Steel Dynamics, as we are the largest non-automotive flat roll steel coater in the United States.

"In combination with our existing and newly announced expansion initiatives, there are firm drivers in place for our continued growth. We are excited about our Sinton, Texas flat roll steel mill project, and the associated long-term value creation it will bring through geographic and value-added product diversification. This facility is designed to have product size and quality capabilities beyond that of existing electric-arc-furnace flat roll steel producers, competing even more effectively with the integrated steel model and foreign competition. We have targeted regional markets that represent over 27 million tons of relevant flat roll steel consumption, which includes the growing Mexican flat roll steel market. This facility is located and designed to have a meaningful competitive advantage in those regions. The team began site work in the second half of 2019, and we are excited to announce that we recently received the required environmental permitting to allow for full construction efforts to begin, with current plans to commence operations mid-year 2021.

"Our differentiated business model and performance-driven culture clearly demonstrate our through-cycle earnings capability. We continue to strengthen our financial position through consistent strong cash flow generation and the execution of our long-term strategy. We are competitively positioned and remain focused on delivering long-term value creation for all of our stakeholders," concluded Millett.

For earnings history and earnings-related data on Steel Dynamics (STLD) click here.