SDI sees lower Q4 earnings, but steel order activity 'solid'

Steel Dynamics Inc. (SDI) expects lower fourth-quarter earnings compared to the third quarter and to the fourth quarter of 2022, according to guidance released on Friday.

The Fort Wayne, Ind.-based steelmaker said it expected Q4’23 earnings to be in the range of $2.60 to $2.64 per diluted share. This is down from Q3’23 earnings of $3.47 per diluted share and from Q4’22 earnings of $3.61 per diluted share.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.