Steel Dynamics Sees Q2 Profit Well Above Estimates - Quick Facts

(RTTNews) - Steel producer Steel Dynamics Inc. (STLD) on Wednesday provided its earnings and adjusted earnings guidance for the second quarter, well above analysts' estimates.

For the second quarter, the company said it expects earnings in a range of $3.26 to $3.30 per share and adjusted earnings in a range of $3.34 to $3.38 per share. This would represent record quarterly earnings for the company.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.05 per share for the quarter. Analysts' estimates typically exclude special items.

The company had reported earnings of $0.36 per share, and adjusted earnings of $0.47 per share in the prior-year quarter.

The company projects second quarter 2021 profitability from its steel operations to be significantly higher than first quarter results, setting a new quarterly record, driven by strong underlying steel demand and significant metal spread expansion across the entire platform, but most pronounced within the flat roll steel operations.