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Steel Dynamics beats 1Q profit forecasts

FORT WAYNE, Ind. (AP) _ Steel Dynamics Inc. (STLD) on Wednesday reported first-quarter earnings of $200.8 million.

The Fort Wayne, Indiana-based company said it had profit of 82 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The steel producer and metals recycler posted revenue of $2.37 billion in the period.

Steel Dynamics shares have decreased 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.70, an increase of 33 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

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Keywords: Steel Dynamics, Earnings Report