Canada-based steelmaker Stelco Holdings Inc. has announced its financial results for the second quarter and the first half of this year.
Accordingly, in the second quarter, the company registered a net income of $123 million, compared to $10 million in the first quarter and $356 million in the same quarter of 2022. Stelco’s revenues in the given quarter totaled $841 million, up by 22.4 percent quarter on quarter and down by 19.0 percent year on year, while its adjusted EBIDTA was $215 million, rising by 231.0 percent from the first quarter and declining by 54.0 percent compared to the second quarter of last year.
In the first half of this year, Stelco achieved a net income of $133 million, moving down by 79.0 percent year on year, while its revenues fell by 21.0 percent year on year to $1.53 billion. In addition, the company’s adjusted EBIDTA came to $280 million compared to $866 million recorded in the same period of 2022.
In the second quarter, the company’s total shipments amounted to 653,000 mt, down by six percent quarter and quarter and by four percent year on year. Meanwhile, in the first half this year the company shipped 1.35 million mt, rising by six percent compared to the first half of last year.