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Steel Dynamics Q2 Earnings Drop

Steel Dynamics (STLD) announced a profit for second quarter that declined from the same period last year.

The company's earnings totaled $194.30 million, or $0.87 per share. This compares with $362.45 million, or $1.53 per share, in last year's second quarter.

Analysts had expected the company to earn $0.89 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.4% to $2.77 billion from $3.09 billion last year.

Steel Dynamics earnings at a glance:

-Earnings (Q2): $194.30 Mln. vs. $362.45 Mln. last year.
-EPS (Q2): $0.87 vs. $1.53 last year.
-Analysts Estimate: $0.89
-Revenue (Q2): $2.77 Bln vs. $3.09 Bln last year.

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