That would mean another record quarter for the steel producer.
 
In a press release, the company noted additional performance-based companywide special compensation of about US$21 million, or US$0.08 per diluted share, which will be awarded to all eligible non-executive team members “in recognition of the company's exceptional record annual performance.”
                                                                                                                                                                                
In the third quarter of 2021, SDI’s earnings were US$4.85 per diluted share. Its 2020 fourth-quarter earnings were US$0.89 per diluted share and adjusted earnings.
 
The company expects its 2021 fourth-quarter profitability from its steel operations to be higher than the previous quarter, thereby setting a new quarterly record.
 
SDI said this profitability is driven by “strong underlying steel demand and metal spread expansion across the platform, more than offsetting seasonally lower steel shipments. Domestic steel demand remains strong, with the automotive, construction and industrial sectors continuing to lead the momentum.”

Read the full press release here.