Steel Dynamics reports Q1 2026 net income of $403M, up 52% on record steel shipments

Filed April 21, 2026 · Period ending April 20, 2026 · ~1 min read

Key Changes

• high

  Q1 2026 net income reached $403M ($2.78/share), up 52% from Q4 2025 and 86% year-over-year, driven by record steel shipments of 3.6M tons and expanding metal spreads as steel prices rose $86/ton while scrap costs increased only $22/ton.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
• high

  Steel operations operating income jumped 73% sequentially to $557M on record shipments and improved margins, with average selling prices reaching $1,193/ton versus scrap costs of $396/ton.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
• high

  Aluminum operations reported $65M operating loss (up from $48M in Q4) as Columbus mill continues ramp-up; shipments rose 54% to 22,500 metric tons despite January startup issues requiring temporary pause and inventory write-off. Management expects sharp Q2 improvement.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →