Steel Dynamics, Inc. (NASDAQ: STLD), a company engaged in steel production and metal recycling in North America, has provided guidance for the third quarter ending September 30, 2024.
The company said it expects earnings in the range of $1.94 per share to $1.98 per share for the third quarter, compared to $3.47 per share in the prior-year quarter.Profitability from steel operations is expected to be meaningfully lower in Q3 than in the second quarter of 2024Q3 profit from metals recycling operations is expected to be in line with earnings generated in the preceding quarterEarnings from steel fabrication operations are expected to be moderately lower than in Q2 2024, based on an anticipated slight decline in average realized pricingThe order backlog remains steady, extending into the first quarter of fiscal 2025 at attractive pricing levelsThe company repurchased $307 million, or 2%, of its common shares during the third quarter, through September 11, 2024The third quarter 2024 earnings report is expected to come on Wednesday, October 16, 2024, after the closing bell
The post Steel Dynamics (STLD) announces guidance for Q3 2024 first appeared on AlphaStreet.
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