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Steel Dynamics sees Q2 EPS surging YOY

Steel Dynamics Inc. forecast a year-on-year surge in second-quarter EPS amid higher shipments and prices as well as stronger demand in the U.S.

The company expects EPS in the range of US$1.46 to US$1.50, compared to 63 cents booked in the second quarter of 2017 and 96 cents in the first quarter of 2018.

"Profitability has improved throughout the steel platform, although the increase is primarily driven by the company's sheet operations. Based on strong steel demand fundamentals and customer optimism, the company believes steel consumption and market dynamics will remain strong throughout the year," it said in a June 15 news release.

The company produces steel and recycles metals at its facilities in the U.S. and Mexico.