Steel Dynamics Q1 Profit Increases, beats estimates

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

The company's earnings came in at $1.10 billion, or $5.71 per share. This compares with $0.43 billion, or $2.03 per share, in last year's first quarter.

Excluding items, Steel Dynamics reported adjusted earnings of $5.78 per share for the period.

Analysts on average had expected the company to earn $5.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 57.3% to $5.57 billion from $3.54 billion last year.

Steel Dynamics earnings at a glance (GAAP) :

-Earnings (Q1): $1.10 Bln. vs. $0.43 Bln. last year. -EPS (Q1): $5.71 vs. $2.03 last year. -Analyst Estimate: $5.66 -Revenue (Q1): $5.57 Bln vs. $3.54 Bln last year.