The Fort Wayne, Ind., steel producer on Wednesday reported a net profit of $317.8 million, or $2.05 a share, compared with $577.2 million, or $3.47 a share, for the same period a year earlier. Analysts polled by FactSet had forecast earnings of $1.97 a share.

Steel Dynamics Inc. (STLD) reported that its third quarter net income attributable to the company declined to $317.80 million or

The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share. The steel producer and metals recycler posted revenue of $4.34 billion in the period, also surpassing Street forecasts.

Steel Dynamics (STLD) reported $4.34 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 5.4%. EPS of $2.05 for the same period compares to $3.47 a year ago.