Steel Dynamics increased its net profit by 79% in the second quarter

The American steel company Steel Dynamics increased its net profit by 79% in the first quarter, while revenue significantly exceeded analysts' expectations.

Revenue increased by 33% to $6.09 billion.

Experts surveyed by FactSet estimated the company's earnings at an average of $3.63 per share on revenue of $5.56 billion.

$533.4 million a year earlier.

The company reported that it delivered a record 3.7 million tons of steel in the reporting quarter, about 400,000 tons more than a year earlier.

Steel Dynamics stock prices decreased by 1.3% following the results of additional trading on Monday (3:3).