Steel Dynamics Q2 adjusted earnings Miss Estimates

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

The company's profit came in at $702.29 million, or $3.32 per share. This compares with $75.50 million, or $0.36 per share, in last year's second quarter.

Excluding items, Steel Dynamics reported adjusted earnings of $719 million or $3.40 per share for the period.

Analysts had expected the company to earn $3.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 113.9% to $4.47 billion from $2.09 billion last year.

Steel Dynamics earnings at a glance:

-EPS (Q2): $3.40 vs. $0.47 last year.
-Analysts Estimate: $3.42
-Revenue (Q2): $4.47 Bln vs. $2.09 Bln last year.

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