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Steel Dynamics Stock Hits a Record High on 'Meaningfully Stronger' Profitability
STLDSteel Dynamics(STLD) Investopedia·2024-03-16 04:05

Key TakeawaysSteel Dynamics gave current quarter guidance that was above estimates as it sees profitability 'meaningfully stronger' than the previous quarter.The steel maker said the gains were driven by its flat rolled steel operations.Steel Dynamics added that because of its confidence in the business, the company repurchased 1.4% of its stock so far in the quarter. Steel Dynamics (STLD) shares soared to a record high after the steel maker reported much better-than-expected guidance on booming demand. Th ...