Steel Dynamics Q1 Profit Increases, beats estimates

Steel Dynamics (STLD) released earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $1.10 billion, or $5.71 per share. This compares with $0.43 billion, or $2.03 per share, in last year's first quarter.

Excluding items, Steel Dynamics reported adjusted earnings of $5.78 per share for the period.

Analysts on average had expected the company to earn $5.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 57.3% to $5.57 billion from $3.54 billion last year.

Steel Dynamics earnings at a glance (GAAP) :

-Earnings (Q1): $1.10 Bln. vs. $0.43 Bln. last year.
-EPS (Q1): $5.71 vs. $2.03 last year.
-Analyst Estimate: $5.66
-Revenue (Q1): $5.57 Bln vs. $3.54 Bln last year.

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