Steel Dynamics, Inc. (STLD) Wednesday reported a decline in net income for the first quarter. However, profit attributable to the company increased for the latest first quarter.
Net income for the quarter fell slightly to $41.2 million from $41.7 million in the same period last year.
However, net income attributable to Steel Dynamics was $48.2 million or $0.21 per share, compared to $45.6 million or $0.20 per share a year ago.
On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.21 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, revenues totaled $1.80 billion, down from $1.98 billion in the prior year, while analysts expected revenues of $1.81 billion.
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