2022 IW U.S. 500: Top Primary Metals Manufacturers (slideshow)
With the annual earnings season underway, IndustryWeek is taking a final look at several categories within the 2022 IW U.S. 500 that performed exceptionally well last year. (As a reminder, the 2022 IW U.S. 500 lists the top 500 publicly held U.S. manufacturing companies based on 2021 revenue.) Primary metals, the subject of this slideshow, is one of those categories that performed exceptionally well. As a group, its companies reported a 71.1% revenue gain for 2021.
For at least some of these manufacturers, another strong year appears to be shaping up. Only time will tell how their numbers compare to those reported in our most recent IW U.S. 500. To review that list, click through this slideshow, which includes the top performers and key financial measures. The below table provides the complete list of primary metals producers that were included in the 2022 IW U.S. 500.
| Rank | Primary Industry | Name | 2021 Revenue (in millions) | 2021 Profit Margin | 2021 Net Income (in millions) | 2021 Revenue Growth |
| 41 | Primary Metals | Nucor Corp. | $36,484 | 18.71% | $6,828 | 81.2% |
| 61 | Primary Metals | Freeport-McMoRan Inc. | $22,845 | 18.85% | $4,306 | 60.9% |
| 66 | Primary Metals | Cleveland-Cliffs Inc. | $20,444 | 14.84% | $3,033 | 281.8% |
| 67 | Fabricated Metal Products* | U.S. Steel Corp. | $20,275 | 20.59% | $4,174 | 108.1% |
| 76 | Primary Metals | Steel Dynamics Inc. | $18,409 | 17.46% | $3,214 | 91.7% |
| 105 | Primary Metals | Reliance Steel & Aluminum Co. | $14,093 | 10.03% | $1,413 | 59.9% |
| 119 | Fabricated Metal Products* | Alcoa Corp. | $12,152 | 3.53% | $429 | 30.9% |
| 131 | Primary Metals | Southern Copper Corp. | $10,934 | 31.07% | $3,397 | 36.9% |
| 191 | Primary Metals | Commercial Metals Co. | $6,730 | 6.14% | $413 | 22.9% |
| 282 | Primary Metals | Mueller Industries Inc. | $3,769 | 12.43% | $469 | 57.2% |
| 293 | Primary Metals | Tronox Holdings PLC | $3,572 | 8.01% | $286 | 29.5% |
| 318 | Primary Metals | Worthington Industries Inc. | $3,171 | 22.82% | $724 | 3.7% |
| 351 | Primary Metals | Schnitzer Steel Industries Inc. | $2,759 | 5.98% | $165 | 61.1% |
| 373 | Primary Metals | Olympic Steel Inc. | $2,312 | 5.24% | $121 | 87.4% |
| 425 | Primary Metals | Titan Int'l. Inc. | $1,780 | 2.79% | $50 | 41.4% |
| 452 | Primary Metals | Steel Partners Holdings LP | $1,525 | 8.62% | $131 | 16.4% |
| 454 | Primary Metals | Materion Corp. | $1,511 | 4.80% | $73 | 28.4% |
| 458 | Primary Metals | Carpenter Technology Corp. | $1,476 | -15.56% | -$230 | -32.3% |
| 485 | Primary Metals | TimkenSteel Corp. | $1,283 | 13.33% | $171 | 54.4% |
Data provided by Seeking Alpha and S&P Global.
*U.S. Steel and Alcoa are listed as Fabricated Metal Products producers in their federal SIC codes, but primary businesses for both remain steel and aluminum production, so we have included them on this list instead of the fabricated metals slideshow.
