Steel Dynamics Shares Fall 6.7% After Q2 EPS Guidance Misses Expectations

Steel Dynamics issued lower-than-expected second-quarter earnings guidance on June 18, sending its shares down 6.7% intraday—the largest single-day decline since March 3. The company projects EPS of $3.51–$3.55, below analyst consensus of $4.16.

The steelmaking business is expected to see revenues slightly lower than Q1 due to higher raw material costs offsetting improved shipments and stable pricing. By contrast, aluminum operations are forecast to improve significantly quarter-over-quarter based on higher shipment volumes and realized prices. Steel Dynamics also recorded a $16 million charge related to relocating a planned Arizona recycling facility to Columbus, Mississippi.