From Investing.com: 2024-05-11 15:23:48

Stelco Holdings Inc. (TSX: STLC) reported a significant 200% increase in adjusted EBITDA to CAD153 million in Q1 2024. The company will pay an ordinary dividend of CAD0.50 per share and continue buying back shares. Plans are in place to enhance downstream value-added capacity and focus on cost reduction for growth.

Executives anticipate stable shipping volumes and lower costs in Q2 and Q3 with a 15% increase in utilization of key lines. Stelco remains optimistic about demand from construction, autos, and oil and gas industries, benefiting from infrastructure projects and a housing shortage. The company aims to capitalize on growth opportunities and create shareholder value through strategic initiatives.



Read more at Investing.com: Stelco reports robust Q1 2024 results, plans expansion By Investing.com