Steel Dynamics shares fell 2.6% after hours Wednesday after the company issued second-quarter earnings guidance that missed analyst expectations, while Nucor edged up 0.3% on an upside forecast. Steel Dynamics expects Q2 earnings of $3.51 to $3.55 per share, well below the $4.16 FactSet consensus, though above Q1 EPS of $2.78 and the prior-year Q2 EPS of $2.01. The guidance included a $16 million reduction to estimated earnings from asset writedowns tied to relocating a planned second satellite aluminum recycled slab center from Arizona to Mississippi. Nucor guided for Q2 earnings of $4.50 to $4.60 per share, above the $4.21 consensus and sharply higher than Q1 EPS of $3.23 and the year-ago Q2 EPS of $2.60, with the largest increase expected in its steel mills segment due to higher average selling prices, stable volumes, and roughly $130 million of cash refunds from prior-period raw materials procurement costs.
Nucor CorpNucor guided Q2 EPS above consensus, driven by higher selling prices and cash refunds.
Steel Dynamics IncSteel Dynamics guided Q2 EPS below consensus, with asset writedowns from relocating a planned facility.