earnings
confidence high
sentiment positive
materiality 0.65
Steel Dynamics guides Q1 2024 EPS $3.51-$3.55, raises dividend 8%
STEEL DYNAMICS INC
- Q1 2024 EPS guidance $3.51-$3.55; Q4 2023 actual $2.61, Q1 2023 actual $3.70.
- Steel operations expected meaningfully stronger sequentially, driven by flat rolled steel including Sinton Texas Flat Roll Division.
- Company repurchased $279 million (1.4% of common) through March 11, 2024.
- Board increased Q1 dividend 8% to $0.46 per common share.
- Non-residential construction demand solid; order backlog extends into Q3 2024 with strong pricing.