Steel Dynamics Inc. sees growth in 2021 financial report
On January 24, 2022, Steel Dynamics Inc. in its financial report from 2021, saw its revenues grow exponentially from last year. In 2021, the company made $18.4 billion, which has grown from last year's revenue of $9.6 billion. Several company milestones were reportedly made in the year with record steel shipments of 11.2 million tons were made, record net sales and record steel recycling segment earnings. The company has cited increased consumer confidence in the economy and in steel demand as to why it has seen growth for the year as it expects continued growth into 2022 despite challenges from the supply-chain crisis.
M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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