Steel Dynamics shares surged Tuesday after the company issued strong third-quarter guidance, according to Benzinga. The company expects third-quarter earnings of $2.60 to $2.64 per share, topping estimates and improving from $2.05 a year ago and $2.01 last quarter. The outlook reflects stronger profitability from steel operations, driven by higher shipments and improved metal spreads, with scrap costs expected to decline more than steel pricing. Metals recycling earnings are also forecast to improve, supported by steady shipments and stronger ferrous spreads. Commercial, data center, manufacturing, warehouse, and healthcare projects are fueling higher fabrication volumes, strong pricing, and a solid backlog that supports better margins. The company repurchased $185 million in stock during the quarter, underscoring confidence in its outlook. Steel Dynamics will release full results on October 20th. Shares were up 6.15% at Tuesday's close, according to Benzinga Pro.
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