Monday Earnings: Fifth Third Reports Before the Open; Steel Dynamics After the Close With a Strong Fabrication Backlog
Third-quarter earnings season turns denser this week, and Monday's first reporters come from banking and steel. Cincinnati-based regional lender Fifth Third Bancorp (FITB) is scheduled to report before Monday's open. Analysts expect revenue of about $3.41 billion and earnings of $0.97 per share, according to estimates compiled by Quiver Quantitative. The stock closed near $50.37 on Friday, down about 4.5% over the past month, against an average analyst price target of $61.71; regional bank stocks overall have fallen about 5.1% on average over the month. Among peers that have already reported, Regions Financial posted an 11% rise in third-quarter net income, setting a reference point for the week.
Steel Dynamics (STLD) reports after Monday's close and will hold its conference call at 11 a.m. ET on Tuesday. Consensus expectations center on earnings of about $3.17 per share. In its earlier quarterly guidance, the company said steel fabrication earnings should improve modestly from the second quarter, with an order backlog nearly 50% higher than in last year's third quarter and extending through the first quarter of 2027, supported by demand from commercial construction, data centers, warehouses, manufacturing and healthcare. At its aluminum flat-rolled mill in Columbus, Mississippi, all three cold mills are now operational and the first annealing and heat-treatment line is running, with commercial shipments expected in the fourth quarter. The company repurchased $261 million of its stock during the third quarter, just under 1% of shares outstanding.
Steelmaker Cleveland-Cliffs also reports on Monday. Later this week, Netflix posts results after Tuesday's close, followed by Tesla and Meta after Wednesday's close.
Published by GSM · USA (original Chinese edition)
Photo: 图：位于 Cuyahoga River 畔的一家钢铁厂。照片：Roy Luck，CC BY 2.0，经 Wikimedia Commons。/ Photo: A steel plant on the Cuyahoga River. Photo by Roy Luck, CC BY 2.0, via Wikimedia Commons.
