Steel Dynamics Issues Weak Q3 Earnings Forecast

Steel Dynamics

issued downbeat earnings forecast for the third quarter. Steel Dynamics now projects earnings of $0.01 to $0.05 per share in the quarter. Excluding special items, it expects earnings of $0.09 to $0.14 per share, down from $0.20 per share in the year-ago period. However, analysts were expecting earnings of $0.19 per share. Steel Dynamics shares dropped 4.80% to $11.69 in after-hours trading.