Steel Dynamics, Inc. STLD is set to release third-quarter 2021 results after the closing bell on Oct 18. The company’s results will likely reflect the benefits of higher steel prices and strong end-market demand.Steel Dynamics’ earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 7.1%, on average. The company posted an earnings surprise of around 1.2% in the last reported quarter. Shares of the company have rallied 78% in the past year compared with 77.7% rise of the industry. Image Source: Zacks Investment ResearchLet’s see how things are shaping up for this announcement.What do the Estimates Say?Steel Dynamics envisions third-quarter earnings in the range of $4.78-$4.82 per share, which suggests a record quarterly performance. It expects third-quarter adjusted earnings in the range of $4.88-$4.92 per share.The Zacks Consensus Estimate for revenues for Steel Dynamics for the to-be-reported quarter is at $4,985 million, suggesting a year-over-year rise of 114.1%.A Few Factors to WatchThe company’s third-quarter results are likely to have benefited from demand strength across key markets and higher domestic steel prices. Strong demand across automotive and construction market is expected to have aided its performance. Steel Dynamics, last month, said that it expects sequentially higher profit in its steel operations in the third quarter, driven by strong underlying steel demand and significant metal spread expansion across the entire platform, especially in flat roll steel operations. Higher demand is likely to have supported the company’s shipments for the third quarter.Higher steel selling prices underpinned by low flat roll steel inventories and strong domestic demand are also likely to have boosted profitability of the company’s steel operations in the third quarter. The company is also expected to have benefited from metal spread expansion.U.S. steel prices have witnessed a significant rally supported by strong underlying supply and demand fundamentals. Strong demand and supply shortages have led to a spurt in domestic steel prices. The benchmark hot-rolled coil (“HRC”) prices have hit record levels after plummeting to pandemic-induced multi-year lows in August 2020. Notably, HRC prices have shot up more than fourfold from the August low of $440 per short ton.Higher domestic steel prices are likely to have boosted Steel Dynamics’ selling prices and supported its revenues and margins in the quarter to be reported. Steel Dynamics, Inc. Price and EPS Surprise Steel Dynamics, Inc. price-eps-surprise | Steel Dynamics, Inc. Quote Zacks ModelOur proven model does not conclusively predict an earnings beat for Steel Dynamics this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.Earnings ESP: Earnings ESP for Steel Dynamics is 0.00%. The Zacks Consensus Estimate for earnings for the third quarter is currently pegged at $4.95. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: Steel Dynamics currently carries a Zacks Rank #1.Stocks That Warrant a LookHere are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:Nucor Corporation NUE, scheduled to release earnings on Oct 21, has an Earnings ESP of +4.03% and carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.Olin Corporation OLN, scheduled to release earnings on Oct 21, has an Earnings ESP of +4.45% and carries a Zacks Rank #1.Nutrien Ltd. NTR, scheduled to release earnings on Nov 1, has an Earnings ESP of +0.77% and carries a Zacks Rank #1. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Steel Dynamics, Inc. (STLD): Free Stock Analysis Report Nucor Corporation (NUE): Free Stock Analysis Report Olin Corporation (OLN): Free Stock Analysis Report Nutrien Ltd. (NTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research