Compared to Estimates, Steel Dynamics (STLD) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Steel Dynamics (STLD) reported revenue of $4.59 billion, down 18.8% over the same period last year. EPS came in at $3.47, compared to $5.46 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.55 billion, representing a surprise of +0.73%. The company delivered an EPS surprise of -0.57%, with the consensus EPS estimate being $3.49.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Steel Dynamics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average External Sales Price (Per ton) Shipped - Steel: 1,191 $/ton compared to the 1,143.97 $/ton average estimate based on three analysts.
Shipments in Tons - Flat Roll-Steel Processing Divisions: 452.14 KTon compared to the 425.24 KTon average estimate based on three analysts.
Shipments in Pounds - Metals Recycling-Nonferrous: 279,877 KTon compared to the 270,932.4 KTon average estimate based on three analysts.
Shipments in Tons - External-Ferrous: 547,646 KTon compared to the 510,238 KTon average estimate based on three analysts.
Average Ferrous Cost (Per ton melted): 405 $/ton compared to the 410.62 $/ton average estimate based on three analysts.
Total External Shipments - Steel: 2,632.62 KTon versus 3,254.47 KTon estimated by three analysts on average.
Shipments in Tons - Steel Fabrication Segment: 161.7 KTon versus the three-analyst average estimate of 177.73 KTon.
Shipments in Tons - Metals Recycling-Total Ferrous: 1,442.96 KTon compared to the 1,447.31 KTon average estimate based on three analysts.
External Net Sales- Steel: $3.14 billion compared to the $3.18 billion average estimate based on three analysts. The reported number represents a change of -15.7% year over year.
External net sales- All Other: $299.68 million versus $338.20 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -5.9% change.
External net sales- Metals Recycling: $520.75 million versus $537.60 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +10.3% change.
External net sales- Steel Fabrication: $630.18 million versus the three-analyst average estimate of $760.76 million. The reported number represents a year-over-year change of -44.7%.
View all Key Company Metrics for Steel Dynamics here>>>
Shares of Steel Dynamics have returned +7.5% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Steel Dynamics, Inc. (STLD) : Free Stock Analysis Report
