Tuesday’s TSX breakouts: This rallying industrial company has logged eight consecutive quarterly earnings beats

Steel Dynamics’ chairman and chief executive officer Mark Millett: “Looking forward, customer order entry is good and backlogs are solid. March in particular was a very strong booking month for the steel platform. Auto is solid, auto production is expected to increase in 2023 over ‘22 rates and dealer inventories have improved, but still remain below historical norms. Build rate in ‘22 was some 14.3 million units and we expect ‘23 to show 15.1 per cent and a little higher in ‘24.

Earnings estimates have been rising. Three months ago, the Street was expecting EBITDA of $354-million in 2023 and $340-million in 2024. The consensus earnings per share estimates were $3.10 in 2023 and $2.97 in 2024.According to Bloomberg, the stock is trading at an enterprise value-to-EBITDA multiple of 5.4 times the 2023 consensus estimate, below its five-year historical average of 6.9 times.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Technology stocks down as S&P/TSX composite falls, U.S. stock markets mixedCanada's main stock index was down in late-morning trading as losses in technology stocks helped lead the way lower, while U.S. markets were mixed.
Source: CTVNews - 🏆 1. / 99 Read more »

Durham police issue warning after seeing increase in break-ins targeting business debit machinesIf you own a business, Durham police are encouraging you to start locking up your debit machines at the end of the night. They're out with a warning after se
Source: DurhamRadioNews - 🏆 70. / 51 Read more »