Steel Dynamics Inc. (STLD) said Monday it expects fourth quarter earnings to come in a range of $0.18 per share to $0.22 per share, including a favorable tax adjustment of about $0.06 per share, said Steel Dynamics.
Excluding the tax adjustment, fourth quarter earnings are estimated to range between $0.12 per share and $0.16 per share.
On average, 18 analysts polled by Thomson Reuters currently expect earnings of $0.11 per share for the quarter. Analysts' estimates typically exclude special items.
In the same quarter last year, Steel Dynamics reported earnings of $0.14 per share.
In addition, the company has declared a quarterly cash dividend of $0.10 per common share, payable on or about January 11, 2013, to shareholders of record on December 31, 2012.
The company added it expected a decrease in ferrous shipments, while overall steel shipments were expected to be flat in comparison to the third quarter.
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