From Financial Modeling Prep: 2024-10-21 13:05:45

In recent news, Steel Dynamics Inc. (NASDAQ:STLD) reported strong third-quarter earnings, with GAAP earnings of $2.05 per share, surpassing expectations. The company achieved quarterly sales of $4.34 billion, exceeding forecasts. Despite lower average realized steel prices, Steel Dynamics managed to increase steel shipments to around 3.2 million tons, showcasing operational efficiency.

The company’s Senior Vice President, Glenn Pushis, recently sold 5,647 shares at $132.95 each, retaining 158,987 shares post-transaction. Steel Dynamics competes with major steel producers like Nucor Corporation and ArcelorMittal in the industry.

Steel Dynamics emphasized its robust performance, highlighting an adjusted EBITDA of $557 million and cash flow from operations of $760 million. The company increased liquidity to $3.1 billion, invested $621 million in growth, and returned $381 million to shareholders through dividends and share repurchases.

Analysts have raised their forecasts for Steel Dynamics, reflecting confidence in its strong performance. Despite challenges from lower average realized steel prices, the company managed to increase steel shipments to around 3.2 million tons, showcasing operational efficiency.

Currently priced at $132.81, STLD experienced a 2.76% decrease today. The stock saw a low of $132.63 and a high of $137.01 during the day’s trading. Over the past year, STLD reached a high of $151.34 and a low of $98.32, with a market capitalization of approximately $20.49 billion.



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