US electric steelmaker Steel Dynamics Inc (SDI) of Fort Wayne, Indiana incurred a net loss of $87,862,000 in its consolidated earnings results for the first quarter (January-March) of 2009.
SDI announced its consolidated Q1'09 results of $814,650,000 in sales, down 57.2% from Q1'08; $113,603,000 in operating loss, compared with an operating profit of $252,407,000 in Q1'08; $149,106,000 in pretax loss, compared with a pretax profit of $230,406,000 in Q1'08; and $87,862,000 in net loss, compared with a net profit of $142,557,000 in Q1'08.
The company's steel shipments totaled 743,000 tons in Q1'09, down 54.2% from Q1'08, when their sales prices averaged $720/ton, down $193. The metal recycling division's ferrous scrap shipments totaled 730,000 tons in Q1'09, down 48% from Q1'08. |
