Steel Dynamics Stock Jumps On Q3 Earnings: Highlights From The Report
Portfolio Pulse from Adam Eckert
Steel Dynamics Inc (NASDAQ:STLD) reported better-than-expected Q3 earnings, with revenue of $4.34 billion and EPS of $2.05, surpassing estimates. The company shipped 3.2 million tons of steel and generated $760 million in cash flow. Despite a sequential earnings decline due to lower steel pricing, the company is optimistic about future steel prices and expects additional earnings from new operations by 2025.
October 16, 2024 | 9:21 pm
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Steel Dynamics reported Q3 revenue of $4.34 billion and EPS of $2.05, both above estimates. The company is optimistic about future steel prices and expects additional earnings from new operations by 2025. Shares rose 2.43% in after-hours trading.
The better-than-expected Q3 earnings and positive future outlook have led to a 2.43% increase in STLD's stock price in after-hours trading. The company's plans for new operations and expected recovery in steel prices further support a positive short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100