15.06.2018 14:37:45

Steel Dynamics Sees Q2 EPS Above View - Quick Facts

(RTTNews) - Steel Dynamics Inc. (STLD) said it expects second quarter earnings to be in the range of $1.46 to $1.50 per share, compared to prior-year quarter earnings of $0.63 per share and sequential first quarter 2018 earnings of $0.96 per share.

On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $1.33 per share for the second quarter. Analysts' estimates typically exclude special items.

During the second quarter 2018, profitability from the company's steel operations is expected to be meaningfully higher than sequential first quarter results, based on increased steel shipments and metal spread expansion. The company believes steel consumption and market dynamics will remain strong throughout the year.

The profitability for the company's metals recycling platform is expected to remain consistent with sequential first quarter results, as the benefits of higher shipments are offset by both ferrous and non-ferrous metal spread compression.

Meanwhile, the earnings from the company's steel fabrication business are expected to decrease from sequential first quarter results. However, it continues to experience strong steel fabrication order activity, and increasing order backlogs.

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Steel Dynamics Inc. 109,88 -1,93% Steel Dynamics Inc.