WASHINGTON (dpa-AFX) - Steel products maker Steel Dynamics, Inc. (STLD) on Friday said it expects earnings in the first quarter to be significantly below last year, amid unexpected margin compression as flat roll markets moderated more quickly than raw material input pricing.
The company sees earnings in the range of $0.15 to $0.20 per share. These estimated earnings include a reduction of $0.03 per share associated with the company's announced financing activities occurred in January.
On average, 16 analysts polled by Thomson Reuters expect earnings of $0.36 per share for the quarter. Analysts' estimates typically exclude special items.
In the preceding fourth quarter, the company earned $0.14 per share. In the year-ago first quarter, earnings per share totaled $0.46.
Further, the company said its board of directors has declared a quarterly cash dividend of $0.10 per common share, payable to shareholders of record at the close of business on March 31.
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