Steel Dynamics lowered Q2 earnings guidance to $3.51-$3.55 per share, missing estimates due to a $16M writedown.
Steel Dynamics (STLD) revised its Q2 earnings guidance downward, citing a $16M asset writedown that reduced estimated earnings. The company now expects earnings of $3.51-$3.55 per share, below the $4.16 FactSet consensus estimate.
The adjustment follows weaker-than-expected performance, contrasting with prior analyst projections. The guidance cut reflects operational challenges and asset impairments impacting profitability.
Shares of Steel Dynamics fell 2.6% in post-market trading following the announcement.