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Compared to Estimates, Steel Dynamics (STLD) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Steel Dynamics (STLD - Free Report) reported revenue of $4.69 billion, down 4.1% over the same period last year. EPS came in at $3.67, compared to $4.01 in the year-ago quarter.
The reported revenue represents a surprise of -0.97% over the Zacks Consensus Estimate of $4.74 billion. With the consensus EPS estimate being $3.54, the EPS surprise was +3.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Steel Dynamics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Shipments in Tons - Steel Fabrication Segment: 143.84 KTon versus the four-analyst average estimate of 145 KTon.
Average External Sales Price (Per ton) Shipped - Steel: 1,201 $/ton versus the four-analyst average estimate of 1,148.78 $/ton.
Average Sales Price (Per ton) Shipped - Steel Fabrication: 3,141 $/ton versus the four-analyst average estimate of 3,529.57 $/ton.
Shipments in Tons - Metals Recycling - Ferrous: 1,453.62 KTon versus the three-analyst average estimate of 1,499.65 KTon.
Shipments in Tons - Flat Roll shipments - Steel Processing Divisions: 418.55 KTon compared to the 435.41 KTon average estimate based on three analysts.
Shipments in Tons - Long Product shipments - Engineered Bar Products Division: 191.37 KTon versus 216.04 KTon estimated by three analysts on average.
Shipments in Tons - Long Product shipments - Roanoke Bar Division: 124.92 KTon versus 146.42 KTon estimated by three analysts on average.
Shipments in Tons - Long Product shipments - Steel of West Virginia: 86.53 KTon versus 93.56 KTon estimated by three analysts on average.
External Net Sales- Steel: $3.37 billion versus the four-analyst average estimate of $3.23 billion. The reported number represents a year-over-year change of +10%.
External net sales- Steel Fabrication: $447.18 million versus the four-analyst average estimate of $514.47 million. The reported number represents a year-over-year change of -48.5%.
External net sales- Metals Recycling: $569.47 million versus the four-analyst average estimate of $512.04 million. The reported number represents a year-over-year change of -2.4%.
External net sales- All Other: $311.11 million compared to the $308.91 million average estimate based on three analysts. The reported number represents a change of -18.2% year over year.
Shares of Steel Dynamics have returned -4.8% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Steel Dynamics (STLD) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Steel Dynamics (STLD - Free Report) reported revenue of $4.69 billion, down 4.1% over the same period last year. EPS came in at $3.67, compared to $4.01 in the year-ago quarter.
The reported revenue represents a surprise of -0.97% over the Zacks Consensus Estimate of $4.74 billion. With the consensus EPS estimate being $3.54, the EPS surprise was +3.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Steel Dynamics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Shipments in Tons - Steel Fabrication Segment: 143.84 KTon versus the four-analyst average estimate of 145 KTon.
- Average External Sales Price (Per ton) Shipped - Steel: 1,201 $/ton versus the four-analyst average estimate of 1,148.78 $/ton.
- Average Sales Price (Per ton) Shipped - Steel Fabrication: 3,141 $/ton versus the four-analyst average estimate of 3,529.57 $/ton.
- Shipments in Tons - Metals Recycling - Ferrous: 1,453.62 KTon versus the three-analyst average estimate of 1,499.65 KTon.
- Shipments in Tons - Flat Roll shipments - Steel Processing Divisions: 418.55 KTon compared to the 435.41 KTon average estimate based on three analysts.
- Shipments in Tons - Long Product shipments - Engineered Bar Products Division: 191.37 KTon versus 216.04 KTon estimated by three analysts on average.
- Shipments in Tons - Long Product shipments - Roanoke Bar Division: 124.92 KTon versus 146.42 KTon estimated by three analysts on average.
- Shipments in Tons - Long Product shipments - Steel of West Virginia: 86.53 KTon versus 93.56 KTon estimated by three analysts on average.
- External Net Sales- Steel: $3.37 billion versus the four-analyst average estimate of $3.23 billion. The reported number represents a year-over-year change of +10%.
- External net sales- Steel Fabrication: $447.18 million versus the four-analyst average estimate of $514.47 million. The reported number represents a year-over-year change of -48.5%.
- External net sales- Metals Recycling: $569.47 million versus the four-analyst average estimate of $512.04 million. The reported number represents a year-over-year change of -2.4%.
- External net sales- All Other: $311.11 million compared to the $308.91 million average estimate based on three analysts. The reported number represents a change of -18.2% year over year.
View all Key Company Metrics for Steel Dynamics here>>>Shares of Steel Dynamics have returned -4.8% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.