Update: Steel Dynamics Shares Fall After Issuing Downbeat Q2 Earnings Outlook

MT Newswires Live06-19

(Updates with the latest stock movement in the first paragraph and headline.)

Steel Dynamics (STLD) shares were down 7.3% in Thursday afternoon trading after the company said late Wednesday it expects fiscal Q2 EPS between $3.51 and $3.55.

Analysts polled by FactSet are looking for $4.16.

The company said Q2 earnings were trimmed by $16 million due to asset write-downs related to the relocation of its satellite aluminum recycled slab center from Arizona to Columbus.

So far in the quarter, the company has repurchased $170 million of its common stock, it added.

Price: 250.35, Change: -19.78, Percent Change: -7.32

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