Steel Dynamics (STLD) PT Goes to $25 at Jefferies on Severstal Deal
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Go back to Steel Dynamics (STLD) PT Goes to $25 at Jefferies on Severstal Deal
July 21, 2014 6:06 PM EDT
Steel Dynamics, Inc. (NASDAQ: STLD) reported Q2 EPS of $0.31, $0.01 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $2.07 billion versus the consensus estimate of $1.99 billion.
"Our consolidated operating income increased 63 percent to $132 million for the second quarter 2014, as compared to the first quarter," said Chief Executive Officer Mark Millett. "All of our reporting segments achieved meaningfully higher profitability compared to the sequential quarter, improving beyond the negative... More
July 21, 2014 6:07 AM EDT
Steel Dynamics, Inc. (NASDAQ: STLD) entered into a definitive agreement to acquire 100% of Severstal Columbus, LLC ("Columbus") from OAO Severstal. Located in northeast Mississippi, Columbus is one of the newest and most technologically advanced mini-mills in North America. Steel Dynamics will purchase Columbus for $1.625 billion in cash, subject to customary transaction purchase price adjustments.
The acquisition expands Steel Dynamics' annual steel shipping capacity to 11.0 million... More
