Stelco Holdings Inc
BBG00J418G16
ISIN CA8585221051 / Valor 38487753
Stelco Holdings Inc
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About company
Stelco Holdings Inc is a Canadian steel company that has built a strong reputation for adapting to customer needs and maintaining a forward-thinking vision. The company has a long history of resilience and innovation, with generations of employees contributing to its success. Stelco has played a significant role in its communities and the country as a whole, establishing itself as a key player in the steel industry.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (14.08.2024):
Revenue Decline
Stelco Holdings Inc. reported revenue of $716 million for the second quarter of 2024, which represents a 15% decrease from the $841 million reported in the same quarter of 2023. This decline was primarily driven by an 11% decrease in the Average Selling Price per net ton and a 3% decrease in Shipping Volume.
Operating Income
For Q2 2024, Stelco Holdings Inc. achieved an operating income of $125 million, down 33% from $186 million in Q2 2023. Despite the revenue drop, the company managed to slightly increase its operating income by 3% compared to Q1 2024, which was $121 million.
Net Income
Stelco Holdings Inc. reported a net income of $67 million for the second quarter of 2024, a significant decrease from the $117 million reported in Q2 2023. However, this figure represents a 6% increase from the $63 million net income reported in Q1 2024.
Adjusted EBITDA
In Q2 2024, Stelco Holdings Inc. posted an Adjusted EBITDA of $147 million, down 32% from $215 million in Q2 2023. The Adjusted EBITDA margin stood at an industry-leading 21%, maintaining the same level as in Q1 2024, despite a 4% decrease from the previous quarter's $153 million.
Dividends and Share Repurchase
Stelco Holdings Inc. declared a quarterly dividend of $0.75 per share, payable on August 26, 2024. Additionally, the company repurchased 518,238 shares in Q2 2024, bringing the total year-to-date repurchases to 680,306 shares, reflecting its commitment to returning value to shareholders.
Summarized from source with an LLMView SourceKey figures
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