Stelco Reports First Quarter 2018 Results
HAMILTON, ONTARIO, May 2, 2018 - 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 and that of Stelco Inc. (“Stelco” or “Stelco Inc.”) for the three months ended March 31, 2018. Stelco Holdings is the 100% owner of Stelco, the operating company.
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First quarter 2018 highlights include:
- Revenue of $482 million, up 25% year-over-year
- Operating income increased 58% year-over-year to $57 million
- Adjusted EBITDA of $70 million, up 9% year-over-year
- Company reaffirms Q2 2018 earnings estimates
- Company declares dividend of $0.10 per share with a record date of May 15, 2018 and payment date of May 18, 2018