Based in Fort Wayne, Indiana, Steel Dynamics, Inc. (STLD) operates as a steel producer and metal recycler. Valued at a market cap of $19.8 billion, it is one of the most diversified steel companies in the United States and makes and markets steel products, recycles ferrous and nonferrous metals, and fabricates and sells steel joist and decking products. The company is expected to announce its fiscal 2024 Q3 earnings results before the market opens on Wednesday, Oct.16.
Ahead of this event, analysts expect the metal company to report a profit of $1.98 per share, representing a significant decline of 42.9% from $3.47 per share in the year-ago quarter. Moreover, the company has surpassed Wall Street's bottom-line estimates in two of the last four quarters while missing on the other two occasions. In Q2, the company reported an EPS of $2.72, which topped the consensus estimates by a narrow margin of roughly 1.9%.
