Steel Dynamics (NASDAQ: STLD) reported Q1 EPS of $0.88, $0.09 better than the analyst estimate of $0.79. Revenue for the quarter came in at $2.6 billion versus the consensus estimate of $2.56 billion.

"The team delivered a strong first quarter 2020 performance in a challenging operating and market environment," said Mark D. Millett, President and Chief Executive Officer. "Solid underlying steel demand during the first quarter combined with our value-added product capabilities, allowed us to achieve record quarterly steel shipments. Our first quarter 2020 consolidated operating income was $274 million with adjusted EBITDA of $356 million.

"Protecting the health and wellbeing of our teams is at the core of our company," continued Millett. "We are closely monitoring the COVID-19 situation and have implemented numerous additional practices throughout our organization to protect each of us. I want to thank our more than 8,400 team members for remaining steadfast and passionate. We continue to operate safely with a spirit of excellence, and I am incredibly proud to work alongside each one during this unprecedented time. Our commitment is to the health and safety of our people, our families, and our communities, while serving our customers. This commitment is supported by the strength of our capital foundation and unmatched cash flow generation capability that exists in both strong and weak demand environments."

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