Stock Analysis on Net
Stock Analysis on Net

Steel Dynamics Inc. (NASDAQ:STLD)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 26, 2022.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paying user area

Try for free

Steel Dynamics Inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Steel Dynamics Inc., consolidated income statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Unrelated parties
Related parties
Net sales
Costs of goods sold
Gross profit
Selling, general and administrative expenses
Profit sharing
Amortization of intangible assets
Asset impairment charges
Operating income
Interest expense, net of capitalized interest
Other income (expense), net
Income before income taxes
Income tax expense
Net income
Net (income) loss attributable to noncontrolling interests
Net income attributable to Steel Dynamics, Inc.

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Net Sales
Net sales exhibited an overall upward trend from March 2017 through June 2022, with fluctuations reflecting seasonal or market variations. Initial values around $2.37 billion increased gradually to peak near $6.21 billion in mid-2022 before a slight decline noted in the September 2022 quarter. The data suggests steady growth in revenue generation over the periods analyzed.
Cost of Goods Sold (COGS)
COGS followed a similar increasing pattern as net sales but with occasional contractions. From approximately $1.90 billion in early 2017, these costs escalated significantly to over $4.3 billion by mid-2022, consistent with the growth in sales volume or input costs. The increase indicates higher production or procurement costs, although in some quarters, decreases suggest cost control or lower production levels.
Gross Profit
Gross profit showed considerable volatility but an overall rising trajectory correlating with net sales growth. After fluctuations in 2017 with a low around $321 million, the figure surged sharply beginning in 2020, reaching a pronounced peak exceeding $1.88 billion in the June 2022 quarter before dropping in September 2022. This pattern indicates improved margin generation ability, potentially due to higher sales prices or operational efficiencies.
Selling, General and Administrative Expenses (SG&A)
SG&A expenses remained relatively stable around $100 million per quarter through 2017-2019, then increased to a range between $130 million and $180 million during 2020-2022. The rise in these expenses coincides with the period of rapid sales growth, consistent with scaling business operations, but with some moderation evident in recent quarters.
Profit Sharing Expenses
Profit sharing exhibited a general increase from approximately $21 million in early 2017 to a peak exceeding $143 million by late 2021, followed by some decline in 2022. This trend aligns with profitability improvements and suggests incentive structures linked to company financial performance.
Asset Impairment Charges
An asset impairment charge of approximately $19.4 million was observed in Q4 2020, representing a one-time reduction, with no other impairments recorded in the data range. This charge likely impacted net income for that particular period.
Operating Income
Operating income rose steadily from about $335 million in early 2017 to surpass $1.6 billion by late 2021, reflecting substantial operational profitability gains. A slight decline occurred in the last reported quarter, though results remain elevated relative to earlier years, indicating sustained strong operating performance.
Interest Expense
The net interest expense showed a moderate downward trend, declining from near $34 million per quarter in 2017 to around $25 million by late 2022. Such a decrease might reflect lower debt levels or improved borrowing terms.
Other Income (Expense), Net
Other income/expense was generally minor and fluctuated without a clear pattern, including notable negative values in mid-2020 and positive values in late 2022. These variations seem to have limited impact on overall profitability.
Income Before Income Taxes
This metric increased significantly over the period, starting near $304 million in early 2017 and peaking around $1.6 billion in 2021 before reducing somewhat in subsequent quarters. The growth reflects strengthening profitability before tax considerations.
Income Tax Expense
Income tax expense presented noteworthy variability, with quarters of both negative and positive amounts. Large tax benefits appeared in Q4 2017, while tax charges generally increased in line with pre-tax income over later periods, reaching over $381 million negatives in mid-2022. The fluctuations may reflect changes in tax law, deferred taxes, or adjustments.
Net Income
Net income trends mirror those of operating income and income before taxes. Starting around $199 million, net income showed consistent growth reaching over $1.2 billion from 2020 onward, before a substantial decrease in mid-2022 to $918 million. This pattern suggests strong earnings growth supported by operational gains yet subject to recent profit pressures or market conditions.
Net Income Attributable to Steel Dynamics, Inc.
The portion of net income attributable to the company closely follows overall net income trends with a consistently slightly higher value. This confirms the company's dominant share in consolidated earnings, showing the same steady increase in profitability with minor declines in late 2022.