Steel Dynamics issues 4th-qtr. earnings guidance
Dec 10, 2009 | 10:32 AM
| Corinna Petry
Steel Dynamics Inc. (SDI) said Thursday that it expects fourth-quarter earnings to be in a range of 10 to 20 cents per diluted share in contrast to a net loss of 45 cents per share in the fourth quarter of 2008 and net income of 30 cents in the third quarter this year.
Among the factors that have impacted quarterly earnings are lower shipments and margin compression at its metals recycling operations, caused by the sharp declines in transaction prices experienced early in the quarter, the Fort Wayne, Ind.-based mini-mill producer said.
"Encouragingly, though, recent order entry activity has been robust at our flat-rolled and special bar quality (SBQ) operations, and pricing has begun to move in a positive direction," Keith Busse, chairman and chief executive officer, said in a statement. "Yet, sustainability remains a question mark."....
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