Steel Dynamics Sees Q4 EPS Above View

Steel Dynamics Inc. (STLD) said that it expects earnings for the fourth quarter 2021 to be in the range of $5.46 to $5.50 per share, and adjusted earnings of $5.69 to $5.73 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $5.62 per share for the fourth-quarter. Analysts' estimates typically exclude special items.

Fourth quarter 2021 profitability from the company's steel operations is expected to be higher than third quarter results setting a new quarterly record, driven by strong underlying steel demand and metal spread expansion across the platform, more than offsetting seasonally lower steel shipments.

Fourth quarter 2021 earnings from the company's metals recycling operations are expected to be aligned with sequential third quarter results, based on improved metal margins despite modestly lower selling values and offsetting lower shipments.

Fourth quarter 2021 earnings from the company's steel fabrication operations are expected to be more than two and one-half times higher than sequential record third quarter results, as significantly higher selling values and near-record shipments, meaningfully more than offset higher steel input costs.

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