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Metal Dynamics, Inc. (NASDAQ: STLD), an organization engaged in metal manufacturing and metallic recycling in North America, reported decrease earnings and web gross sales for the second quarter of 2023.
- Whole metal shipments edged as much as 3.2 million tons within the June quarter from 3.1 billion in the identical interval of final 12 months
- At $5.08 billion, web gross sales have been decrease than the $6.21 billion gross sales recorded within the prior-year interval
- The corporate reported robust money movement from operations of $808 million for the quarter
- Metal Dynamics repurchased $380 million of its inventory in Q2, representing 2.2% of its excellent shares
- Internet earnings attributable to shareholders was $812.1 million vs. $1.21 billion within the year-ago interval
- On a per-share foundation, earnings decreased to $4.81 within the newest quarter from $6.44 in Q2 2022