Steel Mills
September 19, 2019
SDI Expects Lower Shipments and Pricing in Q3
Written by Sandy Williams
Steel Dynamics is expecting earnings to drop in the third quarter due to lower profits from its steel operations. Lower scrap prices were not enough to offset lower shipments and declining steel pricing. The steelmaker expects earnings in the range of $0.66 to $0.70 per diluted share compared to $0.87 per share in the second quarter and $1.69 per diluted share in Q3 2018.
Profitability at SDI’s metals recycling platform is also expected to decline due to lower ferrous and nonferrous scrap prices.
