Steel Dynamics (STLD) closed at $113.12 in the latest trading session, marking a -0.74% move from the prior day.
Steel Dynamics (STLD) reported earnings 30 days ago. What's next for the stock?
Steel Dynamics shares have pulled back over 10% from their high due to concerns about the economy, but Q2 results show potential for a bottom. Supported by government programs, potential rate cuts, and low channel inventories, steel demand may inflect higher and boost H2 results. Steel Dynamics' aluminum plant is expected to significantly increase earnings power, leading to a swing in free cash flow and enable ongoing buybacks to push shares higher.
Steel Dynamics, Inc. (NASDAQ:STLD ) Q2 2024 Earnings Conference Call July 18, 2024 11:00 AM ET Company Participants David Lipschitz - Director, IR Mark Millett - Chairman & CEO Theresa Wagler - EVP & CFO Barry Schneider - President & COO Conference Call Participants Carlos De Alba - Morgan Stanley Martin Englert - Seaport Research Partners Tristan Gresser - BNP Paribas Exane Timna Tanners - Wolfe Research Katja Jancic - BMO Andrew Keches - Barclays Bill Peterson - JPMorgan Alex Hacking - Citi Investment Research John Tumazos - Very Independent Research Chris LaFemina - Jefferies Operator Good day and welcome to the Steel Dynamics Second Quarter 2024 Earnings Conference call. At this time, all participants are in a listen-only mode.
Steel Dynamics (STLD) tops earnings and sales estimates in the second quarter. It sees strong market conditions for domestic steel consumption in the second half of 2024.
Although the revenue and EPS for Steel Dynamics (STLD) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Steel Dynamics (STLD) came out with quarterly earnings of $2.72 per share, beating the Zacks Consensus Estimate of $2.67 per share. This compares to earnings of $4.81 per share a year ago.
Evaluate the expected performance of Steel Dynamics (STLD) for the quarter ended June 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Steel Dynamics' (STLD) Q2 results are likely to have been impacted by lower profitability in steel operations.
Steel Dynamics (STLD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
This transaction marks an important component of Steel Dynamics' (STLD) long-term plan to establish a solid capital foundation to support its team, customers, shareholders and future growth.
While most steel producer stocks are trading down in 2024, Steel Dynamics Inc. NASDAQ: STLD is an exception. Its stock is trading up 9.1% year-to-date (YTD).