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Stock Market & Financial Investment News

News Breaks
March 18, 2014
18:02 EDTSTLDSteel Dynamics sees Q1 EPS 13c-17c, consensus 28c
The company said the extreme cold weather across much of the United States, especially the Midwest, has had a significant negative impact on its Q1 financial results. The uncharacteristically severe and prolonged winter weather conditions have resulted in increased energy costs, diminished availability of transportation, reduced production and lower shipments. Profitability from the company's steel operations for Q1 is expected to be lower in comparison to earnings achieved in Q4. Both shipments and metal spreads are expected to be lower in Q1. Anticipated average quarterly product pricing is not expected to outpace increased scrap costs from material consumed early in the quarter. The weather has also negatively impacted production and sales for several key steel-consuming end markets, including automotive, construction and manufacturing. However, improvement in these end markets is anticipated as these consumers re-engage. In addition, order inquiry activity and resulting backlogs continue to improve at the company's fabrication operations. Metals recycling financial results are expected to show improvement for Q1 when compared to Q4 as decreased ferrous metal margins are expected to be offset by modest increases in shipments.
News For STLD From The Last 14 Days
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December 17, 2014
18:02 EDTSTLDSteel Dynamics sees Q4 EPS ex-items 38c-42c, consensus 45c
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