Investing.com - Steel Dynamics (NASDAQ:STLD) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Steel Dynamics announced earnings per share of $5.71 on revenue of $5.57B. Analysts polled by Investing.com anticipated EPS of $5.42 on revenue of $5.33B.
Steel Dynamics shares are up 47% from the beginning of the year, still down 1.77% from its 52 week high of $93.14 set on April 20. They are outperforming the Nasdaq which is down 14.01% from the start of the year.
Steel Dynamics shares gained 1.42% in after-hours trade following the report.
Steel Dynamics follows other major Materials sector earnings this month
Steel Dynamics's report follows an earnings beat by Anhui Conch Cement Co on March 25, who reported EPS of $1.61 on revenue of $7.26B, compared to forecasts EPS of $1.47 on revenue of $10.46B.
Alcoa had beat expectations on Wednesday with first quarter EPS of $3.06 on revenue of $3.29B, compared to forecast for EPS of $2.79 on revenue of $3.4B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar