Steel Dynamics: 2Q Earnings Snapshot
FORT WAYNE, Ind. (AP) _ Steel Dynamics Inc. (STLD) on Monday reported second-quarter profit of $194.3 million.
The Fort Wayne, Indiana-based company said it had profit of 87 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The steel producer and metals recycler posted revenue of $2.77 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $2.69 billion.
Steel Dynamics shares have increased 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $31.54, a fall of 33% in the last 12 months.