Steel Dynamics reported on Monday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Steel Dynamics announced earnings per share of $0.88 on revenue of $2.58B. Analysts polled by anticipated EPS of $0.79 on revenue of $2.56B. That with comparison to EPS of $0.91 on revenue of $2.82B in the same period a year before. Steel Dynamics had reported EPS of $0.62 on revenue of $2.37B in the previous quarter. Analysts are expecting EPS of $0.37 and revenue of $2.28B in the upcoming quarter.
Steel Dynamics shares are down 33% from the beginning of the year , still down 36.92% from its 52 week high of $35.78 set on December 9, 2019. They are under-performing the Nasdaq which is down 5.3% year to date.
Steel Dynamics follows other major Basic Materials sector earnings this month
Steel Dynamics's report follows an earnings beat by Crown on Monday, who reported EPS of $1.13 on revenue of $2.76B, compared to forecasts EPS of $0.92 on revenue of $2.73B.
Sonoco Products had beat expectations on Thursday with first quarter EPS of $0.94 on revenue of $1.3B, compared to forecast for EPS of $0.83 on revenue of $1.36B.
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