Sep. 16 at 7:18 PM
Steel Dynamics surged 6.5% after issuing a bullish Q3 outlook, forecasting earnings of
$2.60–
$2.64 per share, compared with
$2.01 in Q2 and
$2.05 a year earlier. Management expects stronger profitability across its steel operations, metals recycling, and downstream fabrication businesses. The guidance suggests resilient demand despite a challenging trade backdrop.
While analysts surveyed by FactSet had expected even higher earnings of
$2.74, investors appeared encouraged by the company’s steady momentum. Shares hit
$140.07 on Tuesday, extending a 23% gain this year. The stock ranked as the second-best performer in the S&P 500 for the day, while peers like Nucor (NUE) also saw gains, reflecting optimism in the steel sector.
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