By Yasin Ebrahim
Investing.com - Steel Dynamics (NASDAQ:STLD) reported on Monday fourth quarter mixed results as earnings missed, but revenue topped expectations.
Steel Dynamics shares lost 1.70% in after-hours trade following the report.
Steel Dynamics announced earnings per share of $5.49 on revenue of $5.31 billion. Analysts polled by Investing.com anticipated EPS of $5.60 on revenue of $5.29 billion.
"Domestic steel demand was strong throughout the year supported most significantly by the construction, automotive, and industrial sectors," the company said. "This strong market environment drove significantly higher realized steel selling values, resulting in meaningful steel metal spread expansion."
PPG Industries had beat expectations on Thursday with fourth quarter EPS of $1.26 on revenue of $4.19 billion, compared to forecast for EPS of $1.18 on revenue of $4.04 billion.
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