Steel Dynamics Sees Q3 Profit Well Above Estimates

RTTNews | 1025 days ago
Steel Dynamics Sees Q3 Profit Well Above Estimates

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

For the third quarter, the company said it expects earnings in a range of $4.93 to $4.97 per share and adjusted earnings in a range of $5.33 to $5.37 per share.

Adjusted earnings exclude the impact from costs associated with the startup of the company's Sinton Texas Flat Roll Steel Mill growth investment of an estimated $104 million, or $0.40 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.90 per share for the quarter. Analysts' estimates typically exclude special items.

The company had reported earnings of $4.85 per share, and adjusted earnings of $4.96 per share in the prior-year quarter.

The company projects third quarter 2022 profitability from its steel operations to be historically strong, but significantly lower than second quarter 2022 results, due to lower earnings from the company's flat rolled steel operations, as lower average flat rolled steel pricing is expected to more than offset lower raw material costs and higher shipments.

read more
Asian Markets Trade Mostly Lower

Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Monday, following he broadly negative cues from European markets and lack of cues from Wall Street on Friday, amid ongoing concerns about U.S. tariffs after US President Donald Trump announced that his government will send letters to around 170 trading partners outlining new, simple unilateral tariffs that will take effect on August 1.
RTTNews | 2 minutes ago
Lower Open Anticipated For Thai Stock Market

Lower Open Anticipated For Thai Stock Market

The Thai stock market on Friday ended the four-day winning streak in which it had surged almost 50 points or 4.6 percent. The Stock Exchange of Thailand now sits just beneath the 1,120-point plateau and it's expected to see further downside on Monday.
RTTNews | 43 minutes ago
Indonesia Shares May Open In The Red On Monday

Indonesia Shares May Open In The Red On Monday

The Indonesia stock market has finished lower in four straight sessions, slumping more than 60 points or 0.9 percent along the way. The Jakarta Composite Index now sits just above the 6,865-point plateau and it's expected to open under pressure again on Monday.
RTTNews | 1h 13min ago
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese stock market is trading notably lower on Monday, extending the slight losses in the previous session, following he broadly negative cues from European markets and lack of cues from Wall Street on Friday, with the Nikkei 225 falling below the 39,600 level, with weakness across most sectors led by index heavyweights, financial and technology stocks.
RTTNews | 1h 19min ago