Jan 22 (Reuters) - Steel Dynamics STLD.O on Wednesday reported lower-than-expected quarterly revenue, as higher imports of flat rolled steel pressured domestic prices.
Steel Dynamics CEO Mark Millett said steel imports of certain products, most notably coated flat rolled steels, increased "significantly" in 2024, upsetting the supply and demand balance.
"We do expect to see unfairly traded steel imports decline in 2025, based on the recent corrosion resistant flat rolled steel trade case we initiated in late 2024," he added.
Revenue for the reported quarter fell nearly 9% to $3.87 billion, falling short of analysts' estimates of $3.96 billion, according to data compiled by LSEG.
The Indiana-based steel producer reported a profit of $1.36 per share for the quarter ended Dec. 31, compared with $2.61 a year earlier.
Analysts were expecting an adjusted profit of $1.28 per share.
Revenue in Steel Dynamics' fabrication segment fell nearly 24% to $396.2 million from a year earlier.
(Reporting by Aatreyee Dasgupta and Mariam Sunny in Bengaluru; Editing by Shailesh Kuber)
((Aatreyee.Dasgupta@thomsonreuters.com;))
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