FORT WAYNE, Ind. (AP) _ Steel Dynamics Inc. (STLD) on Monday reported second-quarter earnings of $75.5 million.
On a per-share basis, the Fort Wayne, Indiana-based company said it had profit of 36 cents. Earnings, adjusted for non-recurring costs, came to 47 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The steel producer and metals recycler posted revenue of $2.09 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.04 billion.
Steel Dynamics shares have decreased 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $26.48, a fall of 14% in the last 12 months.