Cleveland-Cliffs, one of the Calumet Region s largest industrial employers, forecasts it will pull in about $3.5 billion in earnings before interest, taxes, depreciation and amortization this year if prices hold up.
The Cleveland-based steelmaker, which bought ArcelorMittal USA and AK Steel last year, projects it will bring in $500 million in EBITDA in the first quarter and $1.2 billion in EBITDA in the second quarter of 2021. The projections assume hot-rolled coil prices in the United States will continue to average $975 per ton for the rest of the year.
Cleveland-Cliffs plans to report its first-quarter earnings on April 22.
Last year, the steelmaker pulled in $353 million in EBITDA but posted a loss of $81 million because of $186 million in costs related to acquisition, severance and inventory step-up. It posted a strong fourth quarter in which it completed its acquisition of ArcelorMittal USA, pulling in a profit of $74 million on $286 million in EBITDA.
Editor Marc Chase interviews Sarahi Unzueta, part of the Hoosiers We ve Lost project.
2021 could see a potential record increase in retail sales growth so long as the coronavirus gets under control and the economy recovers.
The National Retail Federation forecasts retail sales nationally will grow by 6.5% to 8.2% to $4.33 trillion and $4.4 trillion this year.Â
âThere is no doubt the economy is positioned for growth in 2021, but how much growth comes down to a single non-economic force â the coronavirus,â National Retail Federation Chief Economist Jack Kleinhenz said. âI am optimistic about improving macroeconomic conditions as COVID-19 infections decline and distribution of vaccines becomes more widespread. Yet the road is never straight, and we have challenges ahead. The pandemic remains the largest uncertainty and the biggest risk the economy faces in 2021.â
Centier Bank has named a new branch manager of its Hobart Strack & Van Til branch.
CEO and Chairman Michael Schrage appointed Lauren Staten to manage the in-store branch at the Strack and Van Til supermarket at 7760 E. 37th Ave. in the North Ridge Plaza.
More than 12,000 Hoosiers have died from COVID-19 since March 2020. There are real names, faces and human stories behind that staggering number. This Sunday, The Times partners with 11 Indiana news agencies to share the stories of dozens of âHoosiers Weâve Lostâ in a special print section and online presentation. Watch for it Sunday.
Staten has worked in the banking industry for 11 years, joining Centier Bank in 2015. She said she strives to make clients feel welcome and get to know them personally.
The Eli Young Band, a country group that has been recording hits for nearly two decades, will perform an outdoor show in downtown Valparaiso this summer.
Tyrus Joseforsky of Flight Levelz Entertainment, which stages the annual Hometown Country Jam festival at Brickie Bowl and country music concerts at the Hobart Art Theatre, is now staging shows in Valparaiso as well. We are happy to announce our expansion into the Valparaiso market as we are bringing Eli Young Band to Central Park Plaza on June 17, 2021, Joseforsky said. This will be an exclusive show at limited capacity with all COVID safety protocols in place.
Popcorn World in Gary recently filled a record order for 11,000 bags of popcorn for the German health care company Fresenius Kabi, which locally operates dialysis centers in Hammond, Munster, Dyer, Merrillville, Crown Point, Hobart, Gary, East Chicago and Portage.
The store at 2560 Garfield St., by Fresh Country Market in Gary, landed the order after Fresenius sales reps were impressed with its gourmet specialty popcorn. When I first read the order, I thought it said 1,100 until my husband corrected me, said Nina Burton, who co-owns Popcorn World with husband LeBarron Burton Sr. I m tired, but the good kind of tired. We pulled together as a team and a village to get this order done.