Record Revenue & Earnings in Q3 2021&Raises Dividend by 50% /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
Stelco Holdings Inc. third quarter highlights include:
- Revenue of $1,354 million for the quarter, up 47% from Q2 2021
- Operating income of $770 million for the quarter, representing a 57% margin for the quarter
- Adjusted EBITDA* of $787 million for the quarter, representing a 58% Adjusted EBITDA* margin, up 92% from Q2 2021
- Adjusted Net Income* of $629 million and Adjusted Net Income* per share1 of $7.60
- Shipping Volume* of 710,000 tons for the quarter up 5% from Q2 2021
- Record cash generation resulting in $410 million cash balance at the end of Q3 while returning a record $413 million to shareholders during the quarter
- Average Selling Price* per net ton of $1,808, up 40% from Q2 2021
- Declared quarterly dividend of $0.30 per share, up 50%, payable on November 30, 2021
HAMILTON, ON, Nov. 10, 2021 /CNW/ - Stelco Holdings Inc. ("Stelco Holdings" or the "Company"), (TSX: STLC), a low cost, integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America, today announced financial results of the Company for the three and nine months ended September 30, 2021. Stelco Holdings is the 100% owner of Stelco Inc. ("Stelco"), the operating company.