Reports Q4 revenue $4.8B, consensus $4.73B. "The team delivered a tremendous operational and financial performance during 2022, achieving record net sales of $22.3B, operating income of $5.1B, and adjusted EBITDA of $5.5B," said CEO Mark Millett. "…we achieved record annual cash flow from operations of $4.5B and ended the year with record liquidity of $3.4B, while at the same time meaningfully growing our business through significant organic growth investments, acquisitions, maintaining a positive cash dividend profile, and executing on our share repurchase program. We believe we are already one of the lowest carbon emission steel producers in the world, yet our teams continue to make great progress toward achieving our decarbonization goals. We have a firm foundation for our continued long-term, strategic growth, and ongoing value creation. Domestic steel demand was solid throughout the year supported most significantly by the construction, automotive, industrial, and energy sectors…Despite a challenging pricing environment throughout much of the year, our metals recycling teams achieved operating income of $130M. The strength of our diversified, value-added circular manufacturing model was certainly evidenced in 2022".
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