Steel Dynamics Exceeds Q3 Estimates with $2.05 EPS and $4.34B Revenue

Steel Dynamics reported its third-quarter earnings for 2024, surpassing both earnings and revenue estimates. The company posted an earnings per share (EPS) of $2.05, exceeding the estimated $1.97. Revenue reached $4.34 billion, beating the forecasted $4.17 billion. Net income for the quarter was $320.894 million, above the expected $306.4 million, and pretax profit was $408.025 million, surpassing the estimated $404 million. Despite a year-over-year revenue decline of 5.34% and a 40.92% drop in EPS, Steel Dynamics remains optimistic about its outlook for 2025, anticipating a recovery in steel pricing. The stock rose 2.6% in pre-market trading.