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Steel Dynamics Q3 net sales $2.3 billion

Christian Fernsby ▼ | October 20, 2020
Steel Dynamics announced third quarter 2020 financial results.
Steel Dynamics
Steel Dynamics   Net income was $100 million
The company reported third quarter 2020 net sales of $2.3 billion and net income of $100 million.

Topics: Steel Dynamics

Excluding the impact from the following item, the company's third quarter 2020 adjusted net income was $108 million.

Third quarter 2020 operating income for the company's steel operations was $144 million, or 17 percent lower than sequential second quarter results, due to metal spread compression caused by lower realized selling values in the company's flat roll business, mostly related to lagged contract arrangements.

The third quarter 2020 average external product selling price for the company's steel operations decreased $21 sequentially to $734 per ton.

The average ferrous scrap cost per ton melted at the company's steel mills decreased $7 sequentially to $259 per ton.