Steel Dynamics (STLD) Guides Q2 Earnings Below the Street
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Price: $15.78 --0%
Revenue Growth %: -9.1%
Financial Fact:
Costs of goods sold: 1.62B
Today's EPS Names:
CNET, CNTF, ZLC, More
Revenue Growth %: -9.1%
Financial Fact:
Costs of goods sold: 1.62B
Today's EPS Names:
CNET, CNTF, ZLC, More
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Steel Dynamics (Nasdaq: STLD) expecting Q2 EPS of 15-20 cents, which compares to the Street estimate of 24 cents.
Despite relatively stable sheet steel demand, including strength in the automotive, energy, construction equipment and agricultural sectors, the company's somewhat softer earnings estimate is primarily the result of decreased sheet steel pricing attributable to supply-side pressures from increased imports and increased domestic steel capacity.
Metals recycling earnings are also expected to be lower due to late second quarter pricing and volume pressures attributable to softer export markets and weaker mill buying patterns, resulting in an oversupplied environment. Due to inventory overhang, however, the benefits from decreased scrap pricing on the company's steel operations will not be fully reflected until the third quarter.
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Despite relatively stable sheet steel demand, including strength in the automotive, energy, construction equipment and agricultural sectors, the company's somewhat softer earnings estimate is primarily the result of decreased sheet steel pricing attributable to supply-side pressures from increased imports and increased domestic steel capacity.
Metals recycling earnings are also expected to be lower due to late second quarter pricing and volume pressures attributable to softer export markets and weaker mill buying patterns, resulting in an oversupplied environment. Due to inventory overhang, however, the benefits from decreased scrap pricing on the company's steel operations will not be fully reflected until the third quarter.
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