Steel Dynamics issues anemic 1Q balance outlook
FORT WAYNE, Ind. – Animate Dynamics Inc. on Tuesday issued a first-quarter balance angle that mostly fell beneath analysts' estimates, citation weakness in its structural animate and artifact operations.
The aggregation forecasts balance of 22 cents to 27 cents per allotment in the aboriginal quarter. The mean of that advice is beneath the 26-cents-per-share accepted by analysts polled by Thomson Reuters.
Steel Dynamics is the nation's fifth-largest ambassador of carbon animate products. The aggregation has cut costs and additional assembly during the recession, and CEO Keith Busse said aftermost ages that he sees signs of advance in the industry.
On Tuesday, the aggregation said it is benefiting from "robust adjustment access activity" and ascent atom prices, which boosts profits at its metal recycling operations. Still, it said appeal for structural animate acclimated in architecture charcoal weak.
Shares fell 23 cents to abutting at $17.73.
The aggregation additionally declared a annual banknote allotment of 7 cents per allotment to be paid on April 12 to shareholders on almanac as of abutting of business March 31.
Write on Company Earnings | March 9, 2010 |
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