SDI foresees earnings rise on strength in flat rolled ops

Strength in its flat-rolled steel operations is pushing Steel Dynamics Inc. (SDI) to guide to higher sequential earnings in the current quarter.

The Fort Wayne, Ind.-based steelmaker said on Friday it expects first-quarter 2024 earnings to be between $3.51 and $3.55 per diluted share. Although this would be down slightly from earnings of $3.70 per diluted share in Q1’23, it would be higher than the $2.61 per diluted share posted in Q4’23. In Q4’23, SDI posted net earnings of $424.3 million on sales of over $4.2 billion.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.