Steel Dynamics Expects Lower Q3 Earnings Amid Pricing Pressures

Steel Dynamics, Inc. (STLD) has issued earnings guidance for the third quarter of 2024 in the $1.94-$1.98 per share range. This represents a decline from the company's second-quarter 2024 earnings of $2.72 per share and its third-quarter 2023 earnings of$3.47.STLD’s steel operations profitability is expected to be significantly lower than  the second quarter due to reduced average realized pricing in the flat rolled operations. Approximately 80% of this business is contract-based, linked to lagging pricing ...