Fort Wayne, Indiana-based Steel Dynamics, Inc. said Monday that it anticipates Q1 2013 earnings to be in the range of $0.17 to $0.21 per diluted share, and excluding a Q4 2012 favorable tax adjustment of $0.07 per diluted share, the Q1 earnings are likely to be comparable to $0.20 per diluted share in Q4. The company also reported earnings of $0.20 per diluted share in Q1 2012.
In Q1 2013, overall steel shipments are expected to be fairly flat in comparison to Q4 2012, as decreases in galvanized sheet volume are expected to be offset by increased long product shipments, including engineered special-bar-quality products, standard railroad rail and wide flange products.
Metals recycling financial results are expected to decrease somewhat for Q3 2013, compared to the sequential quarter, as anticipated increases in shipping volumes are offset by decreased margins. In addition, the company's fabrication operations are expected to remain profitable for the fifth consecutive quarter, a possible sign of slowly improving nonresidential construction activity, SDI said in a press release.