Why Steel Dynamics Shares Are Sliding Today
Portfolio Pulse from Nabaparna Bhattacharya
Steel Dynamics (NASDAQ:STLD) shares are down following its Q2 2023 guidance, expecting EPS of $4.78-$4.82, lower than $6.44 a year ago and below the Street view of $4.93. The company cites delays in customer projects, supply-chain constraints, and lower metal margins as reasons for the decline.
June 16, 2023 | 2:58 pm
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Steel Dynamics' Q2 2023 guidance disappoints, with lower EPS expectations due to customer project delays and supply-chain constraints, causing its shares to drop.
Steel Dynamics' lower-than-expected Q2 2023 guidance is a direct result of customer project delays and supply-chain constraints. This negative outlook is causing the stock price to drop, as investors may be concerned about the company's ability to meet earnings expectations. The lower EPS guidance is a significant factor for investors, making this news important for those holding or considering STLD shares.
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