Spotlight Weekly – Excited About Metals
We’re starting to get traction the S&P 500 right now
Our favorite recycling company Steel Dynamics (STLD) just finished an outstanding 2022. Highlights include:
- Record net sales of $22.3 billion
- Record operating income of $5.1 billion
- Record cash flow from operations of $4.5 billion
And the company was added to the prominent S&P 500 Index. That’s a huge deal, as you can see in the stock chart:
CEO Mark Millett commented on the impact of the company’s business of circular manufacturing:
Despite a challenging pricing environment throughout much of the year, our metals recycling teams achieved operating income of $130 million. The strength of our diversified, value-added circular manufacturing model was certainly evidenced in 2022.
On top of the great financial performance, Fortune named the company one of the World’s Most Admired Companies for 2023. This is the sixth consecutive year Steel Dynamics has gotten the honor.
Considering we’ve only had this model portfolio active since mid-November 2022, this is a tremendous performance. And we expect these kinds of moves to continue in 2023.
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