Steel Mills
December 18, 2018
SDI Expects Record Earnings in 2018
Written by Tim Triplett
In guidance on Tuesday, Steel Dynamics, Inc., (SDI) reported its expectations for record annual earnings in 2018 despite challenges in the fourth quarter.
The company expects fourth-quarter earnings in the range of $1.11 to $1.15 per diluted share. Earnings were impacted by several factors: the $14 million cost of a planned maintenance outage at the company’s liquid pig iron facility; $20 million in planned maintenance outages at the company’s two flat roll steel mills, which reduced fourth-quarter shipments by an estimated 70,000 to 80,000 tons; and additional performance-based compensation. SDI’s fourth-quarter guidance compares to earnings of $1.69 per diluted share in the prior quarter and $1.28 per share in fourth-quarter 2017.
