Steel Dynamics (STLD) Sees Q2 Loss of $0.10-$0.15
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Steel Dynamics, Inc. (Nasdaq: STLD) sees a Q2 loss of $0.10-$0.15 after taking into account the recent issuance of common stock and convertible securities. The effect of the increase in share count in calculating diluted earnings per share for the second quarter is predominantly offset by certain expenses related to the repayment of our term loan in June, resulting in little impact on diluted per-share earnings this quarter.
The company had provided qualitative guidance in April suggesting the possibility of improving results in the second quarter, indicating that the second quarter could be close to breakeven, possibly showing a small loss or a small profit. The expected small loss in the second quarter marks an improvement compared to a reported first-quarter loss of $0.48 per diluted share.
The Street is currently expecting a Q2 loss of $0.09.
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