Steel Dynamics Q1 2024 GAAP EPS $3.67 Beats $3.49 Estimate, Sales $4.694B Miss $4.736B Estimate
Portfolio Pulse from Benzinga Newsdesk
Steel Dynamics (STLD) reported Q1 2024 earnings of $3.67 per share, surpassing the $3.49 estimate, but sales of $4.694B fell short of the $4.736B forecast, marking a 4.07% year-over-year decrease.
April 23, 2024 | 8:31 pm
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Steel Dynamics reported higher-than-expected Q1 2024 earnings per share but missed sales estimates, with a slight year-over-year decrease.
The beat on EPS estimates is positive, indicating operational efficiency and profitability. However, the miss on sales forecasts and the year-over-year decrease could raise concerns about growth and demand, potentially balancing out the positive EPS impact on the stock price in the short term.
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