I found 13 publicly-held Metal Corps with Pretax Earnings (PTI) above $30 mil each in the most recent 2Q 2011.
The Total Pretax Income growth in the 2Q 2011 for these 13 Metal Corps was an incredible 134%.
Clearly, the Obama Administration has helped this previously very troubled industry. Particularly, the first-year 100% tax expensing was of great assistance here.
...................................................2Q.........2Q............
..................................................2011......2010.....Increase...
...................................................PTI........PTI.....Amount....%
..................................................(in millions of dollars).........
Alcoa..............................PA.......517........228.......289.....127%
Nucor.............................NC.......477........156.......321.....206%
US Steel(1)......................PA.......287........139.......148.....106%
Steel Dynamics...............IN........149.........77.........72.......94%
Allegheny Technologies..PA.......100.........61.........39.......64%
Worthington Industries..OH.........83.........58.........25.......43%
Olin................................MO.........64.........25.........39.....156%
Aleris Intl(2)..................OH.........60........(35)........95.....271%
AK Steel..........................OH........57.........45.........12.......27%
Commercial Metals.........TX.........52.........(7)........59.....843%
Schnitzer Steel................OR.........52.........63........(11)....-17%
Carpenter Technology.....PA........34...........7.........27.....386%
Mueller Industries..........TN.........34.........23.........11.......48%
Total all 13..............................1,966.......840.....1,126....134%
(1) US Steel 2011 PTI excludes Foreign Currency Gains. Its 2010 PTI excludes Foreign Currency Losses.
(2) Aleris Intl 2010 PTI excludes Loss on Derivatives and Reorganization Gains.
