Steel Dynamics Inc ( STLD ) reported financial results for the third quarter after the market close on Monday. Here’s a rundown of the report.

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Q3 Highlights: Steel Dynamics ( STLD ) reported third-quarter revenue of $4.83 billion, beating analyst estimates of $4.80 billion, according to Benzinga Pro. The company reported third-quarter earnings of $2.74 per share, beating estimates of $2.64 per share.

Steel Dynamics ( STLD ) shipped 3.6 million tons of steel during the third quarter and generated $498 million of operating income from its steel operations due to record steel shipments and metal spread expansion.

Steel Dynamics ( STLD ) generated $723 million of total cash flow from operations and ended the period with more than $2.2 billion of liquidity after repurchasing $210 million of its common stock during the period.

“Our teams performed exceptionally well in the third quarter, achieving strong financial performance and hitting several operating milestones, while continuing to prioritize the safety and well-being of one another,” said Mark Millett, chairman and CEO of Steel Dynamics ( STLD ).

“We are growing, returning significant capital to shareholders, while also maintaining strong returns as compared to best-in-class domestic manufacturers.”

What’s Next: Steel Dynamics ( STLD ) expects “strong” domestic demand for steel and aluminum products amid increased trade stability and a more favorable interest rate environment.

The company noted that it views a reduction in unfairly traded imports as a significant tailwind for its operations, which is expected to positively influence performance across operating platforms.

Company executives will further discuss the quarter on an earnings call Tuesday morning at 11 a.m. ET.

STLD Price Action: Steel Dynamics ( STLD ) shares were down 0.92% in after-hours, trading at $144.94 at the time of publication on Monday, according to Benzinga Pro.

Steel Dynamics ( STLD ) raised its guidance for the third quarter in September, which was met with a positive reaction from investors. The muted reaction in shares on Monday may be due to anticipated strength following the September update.

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