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Steel Dynamics Projects 2nd-quarter Loss
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STLD
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FORT WAYNE, Ind. (AP) — Steel Dynamics Inc. on Friday projected a larger second-quarter loss than Wall Street estimated, but added that business conditions appear to be improving.
Steel Dynamics said it expects to post a loss of 10 cents to 15 cents per share for the quarter, while analysts polled by Thomson Reuters expect a loss of 9 cents per share.
"As we expected early in the quarter, we have experienced some improvement in flat-roll steel order entry and shipping volumes as the quarter progressed while, at the same time, pricing continued to erode," Keith Busse, the company's chairman and CEO, said in a statement. ...
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