Hamilton Ontario based leading Canadian steelmaker Stelco has reported 74% YoY shrinkage in net income for July-September 2022 quarter. Stelco’s Executive Chairman & Chief Executive Officer Mr Alan Kestenbaum said “Despite market headwinds driven by cost inflation and a further deterioration in steel pricing trends, Stelco was able to increase our volume of shipments over the previous quarter and take full advantage of our low-cost structural advantage to again report strong Adjusted EBITDA.”Jul-Sep 2022 QuarterRevenue – CAD 846 Million, down 38% YoYOperating income – CAD 217 Million, down 72% YoYNet income – CAD 158 Million, down 74% YoYAverage Selling Price per NT – CAD 1,162, down 36% YoYAdjusted EBITDA – CAD 245 Million, down 69% YoYAdjusted EBITDA per nt - CAD 357 per tonne, down 68% YoYShipping Volume – 686 KNT, down 3% YoYHot-rolled – 502 KNT, down 7% YoYCoated – 115 KNT, down 7% YoYCold-rolled – 20 KNT, up 82% YoYOthers – 49 KNT, up 44% YoYStelco produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled steel products, as well as pig iron and metallurgical coke.
Hamilton Ontario based leading Canadian steelmaker Stelco has reported 74% YoY shrinkage in net income for July-September 2022 quarter. Stelco’s Executive Chairman & Chief Executive Officer Mr Alan Kestenbaum said “Despite market headwinds driven by cost inflation and a further deterioration in steel pricing trends, Stelco was able to increase our volume of shipments over the previous quarter and take full advantage of our low-cost structural advantage to again report strong Adjusted EBITDA.”Jul-Sep 2022 QuarterRevenue – CAD 846 Million, down 38% YoYOperating income – CAD 217 Million, down 72% YoYNet income – CAD 158 Million, down 74% YoYAverage Selling Price per NT – CAD 1,162, down 36% YoYAdjusted EBITDA – CAD 245 Million, down 69% YoYAdjusted EBITDA per nt - CAD 357 per tonne, down 68% YoYShipping Volume – 686 KNT, down 3% YoYHot-rolled – 502 KNT, down 7% YoYCoated – 115 KNT, down 7% YoYCold-rolled – 20 KNT, up 82% YoYOthers – 49 KNT, up 44% YoYStelco produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled steel products, as well as pig iron and metallurgical coke.
