Steel Dynamics: 3Q Earnings Snapshot

FORT WAYNE, Ind. (AP) _ Steel Dynamics Inc. (STLD) on Wednesday reported third-quarter earnings of $398.4 million.

The Fort Wayne, Indiana-based company said it had profit of $1.69 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The steel producer and metals recycler posted revenue of $3.22 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $3.17 billion.

Steel Dynamics shares have dropped 6 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $40.55, a rise of 12 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STLD at https://www.zacks.com/ap/STLD