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Steel Dynamics Sees Q3 EPS Above Consensus(dpa-AFX International Compact Via Acquire Media NewsEdge) WASHINGTON (dpa-AFX) - Steel Dynamics, Inc. (STLD) said Wednesday that it expects third quarter earnings of $0.34 to $0.38 per share, which includes estimated pre-tax charges of $34 million related to the acquisition and financing of Severstal Columbus, LLC that occurred mid-September, and required post-acquisition estimated purchase accounting adjustments. Excluding the charges, the company forecasts third quarter adjusted earnings to be in the range of $0.42 to $0.46 per share. For the third quarter of last year, the company reported earnings of $0.25 per share. Analysts polled by Thomson Reuters currently expect the company to earn $0.37 per share for the third quarter. Analysts' estimates typically exclude special items. The company expects profitability from its steel operations for the third quarter to be higher in comparison to the sequential quarter. Third quarter profitability from the company's fabrication operations is expected to continue to increase based on both improved volume and margin. The company declared a quarterly cash dividend of $0.1150 per share, payable on or about October 10 to shareholders of record on September 30. Copyright RTT News/dpa-AFX |