Steel Dynamics Guides Q2 Earnings Well Above Estimates

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

For the second quarter, the company said it expects earnings in a range of $4.78 to $4.82 per share.

On average, six analysts polled by Thomson Reuters expect the company to report earnings of $4.13 per share for the quarter. Analysts' estimates typically exclude special items.

The company projects second-quarter profitability from its steel operations to be significantly stronger than sequential first quarter results, based on significant metal spread expansion across the platform as realized selling values more than offset moderately higher scrap costs.