Stelco reports $125 million earnings in 3rd quarter, sharp jump from 2017

Stelco Holdings says it earned 125-million dollars in the third quarter for a sharp rebound from the 30-million-dollar loss it reported in the same quarter last year.
Despite steel tariffs imposed by the U.S., Stelco earnings were up in the third quarter of 2018. (Patrick Morrell/CBC)

Stelco Holdings says it earned 125-million dollars in the third quarter for a sharp rebound from the 30-million-dollar loss it reported in the same quarter last year.

The Hamilton-based steel producer says adjusted net income for the quarter ending September 30th came to 135-million, up from an 11-million-dollar loss for the same quarter last year.

Revenue came in at 619-million, an 84 per cent increase from a year ago, as volumes shipped surged 42 per cent to 586-million tonnes.