Metal Dynamics, Inc. (NASDAQ: STLD), an organization engaged in metal manufacturing and steel recycling in North America, has offered steering for the third quarter ending September 30, 2024.
The corporate mentioned it expects earnings within the vary of $1.94 per share to $1.98 per share for the third quarter, in comparison with $3.47 per share within the prior-year quarter.Profitability from metal operations is predicted to be meaningfully decrease in Q3 than within the second quarter of 2024Q3 revenue from metals recycling operations is predicted to be in keeping with earnings generated within the previous quarterEarnings from metal fabrication operations are anticipated to be reasonably decrease than in Q2 2024, primarily based on an anticipated slight decline in common realized pricingThe order backlog stays regular, extending into the primary quarter of fiscal 2025 at enticing pricing levelsThe firm repurchased $307 million, or 2%, of its widespread shares throughout the third quarter, via September 11, 2024The third quarter 2024 earnings report is predicted to return on Wednesday, October 16, 2024, after the closing bell
