Steel Dynamics Q1 Profit Decreases, but beats estimates

(RTTNews) - Steel Dynamics (STLD) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $637.31 million, or $3.71 per share. This compares with $1.10 billion, or $5.74 per share, in last year's first quarter.

Excluding items, Steel Dynamics reported adjusted earnings of $691 million or $4.01 per share for the period.

Analysts on average had expected the company to earn $3.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.2% to $4.89 billion from $5.57 billion last year.

Steel Dynamics earnings at a glance (GAAP) :

-Earnings (Q1): $637.31 Mln. vs. $1.10 Bln. last year. -EPS (Q1): $3.71 vs. $5.74 last year. -Analyst Estimates: $3.52 -Revenue (Q1): $4.89 Bln vs. $5.57 Bln last year.