Another nice beat Not only Steel Dynamics but also Nucor had a nice beat on EPS.
Nucor is a very different beast than Stelco, still they are once again enjoying
good demand looking forward coupled with nice pricing.
Yes these are cyclicals but i like the way this owner/manager(Alan Kestenbaum) allocates it's capital.
I used to work for a Stelco sub in Quebec, and i can tell you that it's daydsand night the way
this company is operated and the quality of it's balance sheet.
In the past, Stelco was always destrying capitals VS today they creates value for shareholders.
The NCIB was a very good move on their part, and i hope the can shrink it more with the NCIB.
They haven't started it yet.
Also having Fairfax(Prem Wasta) has the largest shareholder(23.6%) is a big plus.
Who knows, if he does not increrase his position down the road.