Shares of Steel Dynamics Inc. (STLD) rose 0.8% in premarket trading Thursday, after the steel producer provided an upbeat fourth-quarter profit outlook, as significant price increases for flat roll steel product offsets increased scrap costs. The company expects adjusted earnings per share, which excludes non-recurring items, of 80 cents to 84 cents, up from 62 cents a share in the year-ago period, and above the FactSet consensus of 76 cents. The stock has rallied 22.6% over the past three months through Wednesday, while the S&P 500 has gained 10.3%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
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