Steel Dynamics Sees Record Earnings In Q2

(RTTNews) - Steel Dynamics, Inc. (STLD) issued second quarter earnings guidance in the range of $6.33 to $6.37 per share. Excluding the impact from costs associated with the startup of the company's Sinton Texas Flat Roll Steel Mill growth investment of an estimated $76 million, or $0.28 per share, the company expects second quarter adjusted earnings to be in the range of $6.61 to $6.65 per share. Analysts polled by Thomson Reuters expect the company to report profit per share of $5.73. Analysts' estimates typically exclude special items.

The company noted that its second quarter profitability from the steel operations is expected to be historically strong, but lower than first quarter 2022 results, due to lower earnings from the flat roll steel operations.