Steel Dynamics Updates Q2 2026 Earnings Guidance and Business Outlook

FORT WAYNE, Ind., June 17, 2026 /PRNewswire/ — Steel Dynamics, Inc., a prominent player in the industrial metals sector, has unveiled its projected earnings for the second quarter of 2026. The company expects earnings to range between $3.51 and $3.55 per diluted share, which marks an increase from the $2.78 per share earnings recorded in the first quarter of 2026 and a significant rise from the $2.01 per share reported in the second quarter of the previous year.

The anticipated earnings for the quarter have been adjusted downward by $16 million due to asset write-downs triggered by Steel Dynamics' decision to relocate their second satellite aluminum recycled slab center project from Arizona to Columbus, Mississippi. The move was necessitated by complications with state officials in Arizona that posed risks to the facility's construction and operations.

Steel Dynamics' steel operations are forecasted to see a substantial upswing in profitability for the second quarter, attributed to strong demand and improved metal margins as selling prices increased at a greater pace than raw material costs. The market's robust order activity is driven by low steel inventories and sustained demand from key sectors such as non-residential construction, energy, automotive, and industrial domains.

The metals recycling operations are expected to maintain earnings comparable to the first quarter of 2026. Although there is an increase in ferrous and non-ferrous shipments, anticipated losses in nonferrous unrealized hedging are likely to offset these gains.

In the steel fabrication segment, second quarter earnings are projected to be slightly lower than the first quarter. This is due to the higher costs of steel raw materials, which are expected to cancel out the advantages of increased shipments and stable pricing. Customer order activity continues to exhibit strength, with a backlog that has surged by nearly 40% from the previous year, extending into the end of 2026 and the following year. The demand is fueled by commercial construction, data centers, warehouse buildouts, and sectors like manufacturing and healthcare.

The company's aluminum operations are also on track for a noteworthy improvement in earnings compared to the first quarter, buoyed by higher shipments and advantageous pricing. The development of the aluminum flat rolled products mill in Columbus, Mississippi, is progressing well, with two of the three cold mills operational and the third set to qualify materials by July. One of the Continuous Annealing and Solution Heat (CASH) lines is currently active and shipping materials, with the second CASH line expected to begin qualifications in the last quarter of 2026.

Additionally, Steel Dynamics repurchased $170 million worth of its stock, equivalent to 0.5% of its outstanding shares, during the second quarter.

The company plans to release its complete second-quarter earnings results after market closure on July 20, 2026, followed by a conference call on July 21 at 11:00 a.m. EDT to discuss its financial performance.

About Steel Dynamics, Inc.

Steel Dynamics, Inc. is a leading provider of industrial metals solutions with operations across the United States and Mexico. Utilizing a circular manufacturing model, the company focuses on producing lower-carbon-emission, high-quality products using recycled scrap metal. It stands as one of North America's largest steel producers and metal recyclers, and its operations include a significant downstream steel fabrication platform. Steel Dynamics' diversification into aluminum products furthers its commitment to high-integrity operations and efficient production of value-added metal goods.

Forward-Looking Statements

This document includes forward-looking statements, which are inherently prone to uncertainty and risk. These include expectations concerning future economic and market conditions, revenues, profitability, and operational plans. Factors such as economic shifts, market volatility, regulatory changes, and operational challenges can lead to different actual outcomes. For a detailed discussion of factors that could affect these predictions, refer to Steel Dynamics' most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission, available at www.sec.gov and on Steel Dynamics' website at www.steeldynamics.com under “Investors – SEC Filings.”

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SOURCE Steel Dynamics, Inc.