Steel Dynamics Sees Q3 Profit Above View - Quick Facts

(RTTNews) - Steel Dynamics Inc. (STLD) said it expects third quarter earnings to be in the range of $4.78 to $4.82 per share, and quarterly adjusted earnings of $4.88 to $4.92 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $4.33 per share for the third-quarter. Analysts' estimates typically exclude special items.

Prior year third quarter earnings were $0.47 per share, and adjusted earnings were $0.51 per diluted share.

Third quarter 2021 profitability from the company's steel operations is expected to be meaningfully higher than second quarter results.

Third quarter 2021 steel shipments are expected to be strong across the company's steel portfolio.

Third quarter earnings from the company's metals recycling operations are expected to be aligned with sequential second quarter results, based on higher sequential ferrous metal margin offsetting lower volume.

The company anticipates consolidated fourth quarter 2021 earnings to be even stronger than third quarter 2021 guidance.