Steel Mills
December 19, 2013
SDI Earnings Guidance Lower Than Expected
Written by Sandy Williams
Steel Dynamics issued its fourth quarter 2013 guidance on Tuesday reporting earnings in the range of $0.21 to $0.25 per diluted share, below analyst estimates ranging from $0.26 to $0.31. SDI announced a quarterly cash dividend of $0.11 per share.
Earnings are expected to be comparable to those of third quarter. Higher steel pricing is anticipated to be offset by reduced overall steel shipments and a lowered long product metal spread affected by decreased product pricing combined with higher scrap costs.
