Steel Dynamics, Inc. (STLD - Free Report) logged earnings of $3.47 per share in third-quarter 2023, down from $5.03 per share in the year-ago quarter. It lagged the Zacks Consensus Estimate of $3.49.
Net sales in the third quarter were down around 19% year over year to $4,587.1 million. It, however, surpassed the Zacks Consensus Estimate of $4,553.8 million.
The company’s results were hurt by lower realized flat rolled steel and steel fabrication prices in the reported quarter. It, however, witnessed steady steel demand and customer order activities during the quarter.
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