Steel Dynamics Q1 Income Climbs 57%

(RTTNews) - Steel Dynamics (STLD) announced a profit for its first quarter that gained ground from last year.

The company said its bottom line rose to $62.74 million, or $0.26 per share. This was higher than $40 million, or $0.17 per share, in last year's first quarter.

Analysts had expected the company to earn $0.24 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 15.1% to $1.74 billion. This was down from $2.05 billion last year.

Steel Dynamics earnings at a glance:

-Earnings (Q1): $62.74 Mln. vs. $40 Mln. last year. -Earnings Growth (Y-o-Y): 56.8% -EPS (Q1): $0.26 vs. $0.17 last year. -EPS Growth (Y-o-Y): 52.9% -Analysts Estimate: $0.24 -Revenue (Q1): $1.74 Bln vs. $2.05 Bln last year. -Revenue Change (Y-o-Y): -15.1%