16.12.2016 15:35:45

Steel Dynamics Expects Q4 Profitability To Decline Sequentially

(RTTNews) - Steel Dynamics, Inc. (STLD) Friday announced fourth quarter earnings guidance in the range of $0.36 to $0.40 per share.

The guidance includes estimated pre-tax charges of $16.5 million, or approximately $0.04 per share, related to its fourth quarter 2016 debt refinancing and repayment activities. Excluding these charges, the earnings guidance would have been in the range of $0.40 to $0.44 per share. In the prior year, the company has recorded adjusted results of $0.09 per share.

On average, 16 analysts are looking for earnings of $0.44 per share. Analysts estimates usually exclude special items.

The company said it expects a sequential decrease in fourth quarter profitability from its steel operations based on lower shipments and metal spread compression. Fourth quarter average steel product pricing is expected to decrease, more than offsetting the savings derived from lower ferrous scrap costs.

Further, Steel Dynamics board of directors has declared a quarterly cash dividend of $0.14 to shareholders on record December 31, payable January 13, 2017.

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