Analyst Research

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Provider: Thomson Reuters Stock Report
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Provider: New Constructs, LLC
Provider: MacroRisk Analytics/EconomicInvestor

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Steel Dynamics Inc Issues Q3 2012 EPS Guidance Below Analysts' Estimates; Issues Q3 2012 Charge Guidance; Declares Dividend

Tuesday, 11 Sep 2012 06:30pm EDT 

Steel Dynamics Inc provided third quarter 2012 earnings guidance in the range of $0.01 to $0.05 per diluted share (EPS), largely reflecting charges related to the Company's recent refinancing and anticipated impairment charges. More specifically, these estimated results include the following anticipated items: Charges related to third quarter refinancing activities of approximately $27 million, or $0.07 per diluted share, primarily associated with prepayment fees. These transactions extended the Company's overall debt maturity profile while reducing annual interest expense by an estimated $10 million; and Impairment charges of between $5 million and $9 million, or $0.01 to $0.02 per diluted share, related to the decision to terminate two small joint ventures. Before charges related to the refinancing and asset impairments, third quarter 2012 estimated results would have been in the range of $0.09 to $0.14 per diluted share, lower than the $0.20 per diluted share reported for the second quarter 2012, and lower than the $0.19 per diluted share reported for prior year's third quarter According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $0.19 for the third quarter of 2012. The Company's Board of Directors has declared a quarterly cash dividend of $0.10 per common share. The dividend is payable to shareholders of record at the close of business on September 30, 2012, and is payable on or about October 12, 2012. 

Company Quote

-0.28 -1.53%
10 Jul 2014