Investing.com - Steel Dynamics reported on Monday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Steel Dynamics announced earnings per share of $0.47 on revenue of $2.09B. Analysts polled by Investing.com anticipated EPS of $0.34 on revenue of $2.07B.
Steel Dynamics shares are down 22% from the beginning of the year and are trading at $26.48 , down-from-52-week-high.They are under-performing the Nasdaq which is up 20% from the start of the year.
Steel Dynamics follows other major Basic Materials sector earnings this month
Steel Dynamics's report follows an earnings beat by PPG Industries on Thursday, who reported EPS of $0.99 on revenue of $3.02B, compared to forecasts EPS of $0.7 on revenue of $2.81B.
Stora Enso Oyj PK had beat expectations on Tuesday with second quarter EPS of $0.16 on revenue of $2.42B, compared to forecast for EPS of $0.12 on revenue of $2.4B.
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