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Compared to Estimates, Steel Dynamics (STLD) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2024, Steel Dynamics (STLD - Free Report) reported revenue of $4.63 billion, down 8.8% over the same period last year. EPS came in at $2.72, compared to $4.81 in the year-ago quarter.
The reported revenue represents a surprise of +4.87% over the Zacks Consensus Estimate of $4.42 billion. With the consensus EPS estimate being $2.67, the EPS surprise was +1.87%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 1,138 $/ton versus the four-analyst average estimate of 1,091.48 $/ton.
Average Sales Price (Per ton) Shipped - Steel Fabrication: 2,978 $/ton compared to the 3,122.61 $/ton average estimate based on four analysts.
Shipments in Tons - External - Steel operations: 2,753.12 KTon versus 2,856.86 KTon estimated by four analysts on average.
Shipments in Tons - Steel Fabrication Segment: 159.07 KTon versus 151.56 KTon estimated by four analysts on average.
Average Ferrous Cost (Per ton melted): 388 $/ton versus 404.58 $/ton estimated by three analysts on average.
Shipments in Tons - Flat Roll shipments: 2,372.86 KTon versus 2,410.02 KTon estimated by three analysts on average.
Shipments in Tons - Metals Recycling - Ferrous: 1,507.23 KTon versus the three-analyst average estimate of 1,504.07 KTon.
Shipments in Tons - Flat Roll shipments - Butler, Columbus and Sinton: 1,943.58 KTon versus 1,976.44 KTon estimated by three analysts on average.
External Net Sales- Steel: $3.13 billion versus $3.12 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -7.8% change.
External net sales- Metals Recycling: $586.43 million versus the four-analyst average estimate of $530.52 million. The reported number represents a year-over-year change of -1%.
External net sales- Steel Fabrication: $472.83 million versus the four-analyst average estimate of $472.78 million. The reported number represents a year-over-year change of -39.3%.
External net sales- All Other: $441.14 million versus $293.58 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +41.2% change.
Shares of Steel Dynamics have returned +6.2% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Steel Dynamics (STLD) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Steel Dynamics (STLD - Free Report) reported revenue of $4.63 billion, down 8.8% over the same period last year. EPS came in at $2.72, compared to $4.81 in the year-ago quarter.
The reported revenue represents a surprise of +4.87% over the Zacks Consensus Estimate of $4.42 billion. With the consensus EPS estimate being $2.67, the EPS surprise was +1.87%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 1,138 $/ton versus the four-analyst average estimate of 1,091.48 $/ton.
- Average Sales Price (Per ton) Shipped - Steel Fabrication: 2,978 $/ton compared to the 3,122.61 $/ton average estimate based on four analysts.
- Shipments in Tons - External - Steel operations: 2,753.12 KTon versus 2,856.86 KTon estimated by four analysts on average.
- Shipments in Tons - Steel Fabrication Segment: 159.07 KTon versus 151.56 KTon estimated by four analysts on average.
- Average Ferrous Cost (Per ton melted): 388 $/ton versus 404.58 $/ton estimated by three analysts on average.
- Shipments in Tons - Flat Roll shipments: 2,372.86 KTon versus 2,410.02 KTon estimated by three analysts on average.
- Shipments in Tons - Metals Recycling - Ferrous: 1,507.23 KTon versus the three-analyst average estimate of 1,504.07 KTon.
- Shipments in Tons - Flat Roll shipments - Butler, Columbus and Sinton: 1,943.58 KTon versus 1,976.44 KTon estimated by three analysts on average.
- External Net Sales- Steel: $3.13 billion versus $3.12 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -7.8% change.
- External net sales- Metals Recycling: $586.43 million versus the four-analyst average estimate of $530.52 million. The reported number represents a year-over-year change of -1%.
- External net sales- Steel Fabrication: $472.83 million versus the four-analyst average estimate of $472.78 million. The reported number represents a year-over-year change of -39.3%.
- External net sales- All Other: $441.14 million versus $293.58 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +41.2% change.
View all Key Company Metrics for Steel Dynamics here>>>Shares of Steel Dynamics have returned +6.2% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.