Steel Dynamics: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Steel Dynamics (NASDAQ:STLD) reported Q4 earnings with an EPS of $2.61, missing estimates by 1.88% against the expected $2.66. Revenue decreased by $593 million from the same period last year. Historically, a miss on EPS last quarter led to a 4.07% share price drop the following day. The company's past earnings performance shows mixed results with both misses and beats on EPS estimates.
January 23, 2024 | 9:40 pm
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NEGATIVE IMPACT
Steel Dynamics reported a slight miss in Q4 earnings with an EPS of $2.61, missing the estimate by 1.88%. Revenue also saw a significant year-over-year decline. Previous earnings miss resulted in a share price drop.
Given the earnings miss and historical share price reaction to such misses, it is likely that STLD's share price may experience a short-term decline. The revenue decrease further supports the potential negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100