Steel Dynamics, Inc. (STLD) announced on Monday an expected decline in its second-quarter earnings, falling short of analysts' estimates. The company forecasts earnings between $2.64 and $2.68 per share for the quarter.
Nine analysts surveyed by Thomson Reuters had, on average, predicted earnings of $2.97 per share for the quarter, excluding any special items.
In the second quarter of 2023, Steel Dynamics had reported earnings of $4.81 per share.
The company is set to release its official second-quarter earnings results on July 17.
As of pre-market trading on the Nasdaq, STLD shares were down 1.99 percent, at $118.29.
