- Steel Dynamics (NASDAQ:STLD +0.1%) is little changed after guiding below consensus for Q4, seeing EPS of $0.40-$0.44 vs. $0.45 analyst consensus estimate, as it expects profitability from steel operations to decrease significantly Q/Q based on lower shipments and metal spread compression.
- But STLD says both flat roll steel selling values and customer order activity have improved meaningfully in November and December, with an expectation for continued strength into 2017.
- The news follows Nucor's (NUE -0.8%) lower guidance from yesterday, but shares closed only 0.3% lower even though its guidance was a wider miss than STLD.
- Other steel producers are mixed: X -0.5%, AKS +1.9%, MT -0.8%, CMC -0.6%.