Steel Dynamics Sees Q2 Profit Well Above Estimates - Quick Facts

Steel producer Steel Dynamics Inc. (STLD) on Wednesday provided its earnings and adjusted earnings guidance for the second quarter, well above analysts' estimates.

For the second quarter, the company said it expects earnings in a range of $3.26 to $3.30 per share and adjusted earnings in a range of $3.34 to $3.38 per share. This would represent record quarterly earnings for the company.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.05 per share for the quarter. Analysts' estimates typically exclude special items.

The company had reported earnings of $0.36 per share, and adjusted earnings of $0.47 per share in the prior-year quarter.

The company projects second quarter 2021 profitability from its steel operations to be significantly higher than first quarter results, setting a new quarterly record, driven by strong underlying steel demand and significant metal spread expansion across the entire platform, but most pronounced within the flat roll steel operations.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Royal Caribbean Group's ultra-luxury brand Silversea Cruises is set to launch the world's first hybrid-powered cruise ship in the summer of 2023. This will also be the first ship with large-scale fuel cell technology to enable emission-free port operations. The fuel cells will provide 100% of power while at port. Affco USA is recalling around 24,461 pounds of frozen raw lamb shoulder products that were not presented for import re-inspection into the U.S., the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves the frozen raw lamb shoulder items that were imported on July 12, 2021. American Express Company (AXP) reported an increase in profit for the third quarter that also topped Wall Street estimates. Consolidated total revenues net of interest expense rose 25 percent year-on-year, primarily reflecting growth in Card Member spending, as well as a rise in the average discount...
Follow RTT