Steel Dynamics posts strong 1Q

摘要

Scrap recycler and steel producer Steel Dynamics of Fort Wayne, Ind., beat its own earnings estimates in the first quarter of 2011, reporting a net profit of $106 million, or 46 cents per share, for the quarter. Steel Dynamics had issued guidance in the range of 37 to 42 cents per share. Earnings increased 63% over the same period last year, when the company posted a net profit of $65 million. During the last quarter of 2010, the company reported $8 million in net profit. By comparison, the company reported earnings of $141 million for all of 2010.