On Tuesday, Steel Dynamics, Inc. (NASDAQ:STLD)’s shares declined -3.02% to $20.72.
Steel Dynamics, Inc. (STLD) the company offered second quarter 2015 adjusted earnings guidance in the range of $0.20 to $0.24 per diluted share
Estimated second quarter adjusted earnings are higher than sequential first quarter 2015 adjusted earnings of $0.17 per diluted share and lower than prior-year second quarter earnings of $0.31 per diluted share. Counting the above items, earnings guidance for the second quarter 2015 is in the range of $0.11 to $0.15 per diluted share.
Profitability from the company’s steel operations for the second quarter 2015 is predictable to be similar in comparison to the sequential first quarter 2015 results. Improved second quarter 2015 shipments will be offset by unpredictable metal margin compression, driven by steel imports remaining much higher than originally anticipated, resulting in average quarterly steel prices decreasing more than average quarterly scrap prices. The benefit of reduced scrap pricing was realized in the second quarter; but, the continued flood of steel imports thus far in 2015 continued to pressure steel product pricing to a greater degree. However, steel pricing has recently begun to stabilize and domestic steel demand remains solid.
Continued demand for the company’s fabricated steel joist and decking products indicates the non-residential construction market is ongoing a positive trend. Second quarter 2015 profitability from the company’s fabrication operations is predictable to be higher than near-record sequential first quarter 2015 results.
Steel Dynamics, Inc., together with its auxiliaries, manufactures and sells steel products, processes and sells recycled ferrous and nonferrous metals, and fabricates and sells steel joist and decking products in the United States and internationally. The company operates in three segments: Steel Operations, Metals Recycling and Ferrous Resources Operations, and Steel Fabrication Operations. The Steel Operations segment provides a range of sheet steel products, such as hot roll, cold roll, and coated steel products; structural steel beams and pilings to construction market; various rail products for the railroad industry; rounds, round-cornered squares, and round engineered bars; angles, plain rounds, flats, channels, and billets; and merchant beams, channels, and specialty structural steel sections.
KBR, Inc. (NYSE:KBR)’s shares gained 1.09% to $19.48.
KBR, Inc. (KBR) in a joint venture with Kvaerner has signed a contract with Statoil for the complete delivery of platform topsides to the Johan Sverdrup field development. The agreement to deliver the deck for the utility and living quarter (ULQ) platform comes after a tough international competition, where Kvaerner-KBR presented the best overall bid. The agreement has an estimated total value for the Kvaerner-KBR partnership of about NOK 6.7 billion.
The ULQ-platform is one of four platforms to the Phase One development of the Johan Sverdrup oil and gas field on the Norwegian continental shelf. Kvaerner-KBR joint venture will execute the engineering, procurement and construction (EPC) for the ULQ topside as one complete delivery. The agreement also comprises an option for commissioning assistance and offshore hook-up for the platform.
Over the last decade, costs in the global oil and gas sector have raised significantly, to the point where oil companies and their contractors are now implementing changes aimed at sustainable cost reductions.
KBR, Inc. operates as an engineering, construction, and services company worldwide. The company operates through three segments: Technology & Consulting, Engineering & Construction, and Government Services. The Technology & Consulting segment offers various services and solutions, counting licensing, engineering and design, proprietary equipment, plant automation, catalysts, and related consulting services to hydrocarbons, chemicals, and fertilizer markets.
At the end of Tuesday’s trade, Pier 1 Imports Inc (NYSE:PIR)‘s shares surged 4.12% to $12.63.
Pier 1 Imports, Inc. (PIR) declared that Jeffrey N. Boyer, 57, has been named Executive Vice President and Chief Financial Officer, effective July 27, 2015. Mr. Boyer will have responsibility for Pier 1 Imports’ financial operations and accounting, counting financial reporting, planning and analysis, accounting, treasury, tax and investor relations. Laura A. Coffey will continue to serve in her role as Executive Vice President and Interim Chief Financial Officer until Mr. Boyer’s appointment becomes effective, at which time she will be named to a separate executive position within the Company.
Pier 1 Imports, Inc. engages in the retail sale of decorative home furnishings, furniture, gifts, and related items. The company offers decorative accents and textiles, such as rugs, wall decorations and mirrors, pillows, bedding, lamps, vases, dried and artificial flowers, baskets, ceramics, dinnerware, candles, fragrance, gift, and seasonal items. It also provides furniture and furniture cushions that are used in living, dining, office, kitchen, bedroom areas, sunrooms, and patios. In addition, the company offers dining and kitchen goods, and other specialty items. Further, it supplies merchandise and licenses the Pier 1 Imports name.
United Parcel Service, Inc. (NYSE:UPS), ended its Tuesday’s trading session with -0.41% loss, and closed at $96.90.
UPS (UPS) declared the induction of 26 Canadian drivers into its elite “Circle of Honor.” The group, in a class by themselves, has achieved 25 years of safe driving.
Collectively, the 7,878 worldwide UPS drivers have logged more than 8.5 billion kilometers and more than 221,000 years of safe driving through their careers. That’s enough kilometers to travel to Mars and back 36 times.
In addition to the new inductees, UPS Canada drivers Robert Avis, Doug Coxon, and Karl Peter reached a milestone of 38 years of safe driving. All three drivers have been recognized as Canada’s longest serving employees and members of the prestigious Circle of Honor who have delivered millions of packages throughout their career with no-at-fault accidents.
UPS drivers worldwide are among the safest on the roads, logging more than 4.8 billion kilometers per year and delivering more than 4 billion packages safely. Before ever making a delivery, all UPS drivers are taught safe driving methods through the company’s defensive driving platform and the training continues throughout their careers.
Collectively, the 7,878 worldwide UPS drivers have logged more than 8.5 billion kilometers and more than 221,000 years of safe driving through their careers. That’s enough kilometers to travel to Mars and back 36 times.
In addition to the new inductees, UPS Canada drivers Robert Avis, Doug Coxon, and Karl Peter reached a milestone of 38 years of safe driving. All three drivers have been recognized as Canada’s longest serving employees and members of the prestigious Circle of Honor who have delivered millions of packages throughout their career with no-at-fault accidents.
UPS drivers worldwide are among the safest on the roads, logging more than 4.8 billion kilometers per year and delivering more than 4 billion packages safely. Before ever making a delivery, all UPS drivers are taught safe driving methods through the company’s defensive driving platform and the training continues throughout their careers.
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