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 $3.4 on revenue of $4.47B. Analysts polled by Investing.com anticipated EPS of $3.38 on revenue of $4.22B.
Steel Dynamics shares are up 57% from the beginning of the year and are trading at $58.65 , down-from-52-week-high.They are outperforming the Nasdaq which is up 10.76% from the start of the year.
Steel Dynamics shares gained 1.31% in after-hours trade after the report.
Steel Dynamics follows other major Basic Materials sector earnings this month
Steel Dynamics's report follows an earnings missed by PPG Industries on Monday, who reported EPS of $1.94 on revenue of $4.36B, compared to forecasts EPS of $2.2 on revenue of $4.34B.
Alcoa had beat expectations on Thursday with second quarter EPS of $1.49 on revenue of $2.83B, compared to forecast for EPS of $1.29 on revenue of $2.65B.
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