NEW YORK, Feb 3 (Reuters) - Steel Dynamics Inc posted a fourth-quarter profit on Wednesday after a loss a year earlier, but fell short of Wall Street forecasts and its shares dipped in post-market trade.
Net earnings were $26.7 million, or 12 cents per share, compared with a loss in the 2008 quarter of $82.7 million, or 45 cents per share. Revenue fell 3 percent to $1.18 billion.
Analysts on average were expecting earnings of 17 cents per share and revenue of $1.08 billion, according to Thomson Reuters I/B/E/S.
In December, Steel Dynamics had forecast a fourth-quarter earnings range of 10 cents to 20 cents a share that trailed analysts estimates at the time, on lower shipments and margin compression at its metals recycling segment.
Shares in Steel Dynamics dipped 1 percent in post-market trade to $15.76 per share, extending the 2.7 percent drop during the regular trading session.
(Reporting by Steve James; editing by Gunna Dickson) Keywords: STEELDYNAMICS/ (steve.james@thomsonreuters.com; +1 646-223-6013; Reuters Messaging: steve.james.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Net earnings were $26.7 million, or 12 cents per share, compared with a loss in the 2008 quarter of $82.7 million, or 45 cents per share. Revenue fell 3 percent to $1.18 billion.
Analysts on average were expecting earnings of 17 cents per share and revenue of $1.08 billion, according to Thomson Reuters I/B/E/S.
In December, Steel Dynamics had forecast a fourth-quarter earnings range of 10 cents to 20 cents a share that trailed analysts estimates at the time, on lower shipments and margin compression at its metals recycling segment.
Shares in Steel Dynamics dipped 1 percent in post-market trade to $15.76 per share, extending the 2.7 percent drop during the regular trading session.
(Reporting by Steve James; editing by Gunna Dickson) Keywords: STEELDYNAMICS/ (steve.james@thomsonreuters.com; +1 646-223-6013; Reuters Messaging: steve.james.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.