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Steel Dynamics Q2 EPS Meets as Sales Top Views

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Steel Dynamics reported Q2 earnings that met analysts’ expectations while its revenues beat forecasts compiled by Capital IQ. The steel maker reported Q2 EPS of $0.63 per share, up from $0.58 per share a year earlier and matching the consensus.

Revenues rose to $2.39 billion from $2.02 billion and were above the $2.34 billion average estimate. Looking ahead, Steel Dynamics said “macroeconomic and market conditions are in place to benefit domestic steel consumption in the coming years.” The company also said it believes “North American automotive steel consumption will be steady, and that there will be additional growth in the energy and construction sectors, especially for larger, public sector infrastructure projects.”

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