Steel Dynamics Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/18 10:06

Steel Dynamics (NASDAQ:STLD) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$4.34b (down 5.4% from 3Q 2023).
  • Net income: US$317.8m (down 45% from 3Q 2023).
  • Profit margin: 7.3% (down from 13% in 3Q 2023).
  • EPS: US$2.06 (down from US$3.50 in 3Q 2023).
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NasdaqGS:STLD Earnings and Revenue Growth October 18th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Steel Dynamics Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 2.9%.

Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Metals and Mining industry in the US.

Performance of the American Metals and Mining industry.

The company's shares are up 5.1% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on Steel Dynamics' balance sheet health.