Overview

• Steel Dynamics Q3 revenue of $4.8 bln beats analyst expectations

• Adjusted EPS of $2.74 for Q3 beats consensus estimates

• Company repurchased $210 mln of its common stock, 1.1% of shares

Outlook

• Steel Dynamics expects strong demand for steel and aluminum due to improving market conditions

• Company sees reduction in unfairly traded imports as a significant tailwind

• Steel Dynamics anticipates positive impacts from U.S. International Trade Commission decisions

Result Drivers

• STEEL SHIPMENTS - Record steel shipments of 3.6 mln tons contributed to improved operating income

• BIOCARBON USE - Biocarbon material successfully used as a carbon replacement in steel production, lowering carbon supply chain

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the iron & steel peer group is "buy"

• Wall Street's median 12-month price target for Steel Dynamics Inc is $153.50, about 7% above its October 17 closing price of $142.75

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nPn4bbM99a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)