Steel Dynamics Guides Q4 Earnings Well Below Estimates

(RTTNews) - Steel producer Steel Dynamics Inc. (STLD) on Monday provided its earnings guidance for the fourth quarter, well below analysts' estimates.

For the fourth quarter, the company said it expects earnings in a range of $1.26 to $1.30 per share.

On average, eight analysts polled by Thomson Reuters expect the company to report earnings of $1.59 per share for the quarter. Analysts' estimates typically exclude special items.

The company projects fourth-quarter profitability from its steel operations to be meaningfully lower than sequential third quarter results, based on lower average realized pricing, seasonally lower shipments, and an unplanned outage at the Company's Butler Flat Roll Division further reducing volume by an estimated 50,000 tons.

Fourth quarter 2024 earnings from the company's metals recycling operations are expected to be significantly more than sequential third quarter results, based on steady ferrous volume and flat average realized pricing.

Fourth quarter 2024 earnings from the company's steel fabrication operations are expected to be lower than sequential third quarter results, based on seasonally lower shipments and less than a five percent decline in average realized pricing.