Indiana, US-based steelmaker Steel Dynamics Inc. announced on June 16 that it expects second quarter earnings per diluted share to be in the range of $0.20 to $0.25 as compared to first quarter 2010 earnings per diluted share of $0.29. In contrast, the company reported a net loss of $0.08 per diluted share for the second quarter of 2009.
Second quarter earnings will be impacted quarter-over-quarter by decreased metals recycling margins as scrap prices declined early in the second quarter, and by lower flat-rolled volumes and margins, the company said, adding that the production and shipping volumes in the company's steel operations were impacted by maintenance and repair work.
The company has declared a quarterly cash dividend of $0.075 per common share, payable on or about July 12, 2010 to shareholders of record at the close of business on June 30, 2010.