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Get filing alertsSteel Dynamics guides Q2 earnings up 26% to $3.51-$3.55/share on strong steel demand
Filed June 18, 2026 · Period ending June 17, 2026 · ~1 min read
Key Changes
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Q2 2026 earnings guidance of $3.51-$3.55/share, up 26-28% from Q1's $2.78 and 75-77% year-over-year, driven by strong steel demand and metal margin expansion as selling prices rose faster than scrap costs.
Exhibit 99.1 view on EDGAR → -
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Steel operations profitability expected meaningfully higher in Q2 versus Q1, with strong order activity supported by low inventories and favorable pricing across non-residential construction, energy, automotive, and industrial markets.
Exhibit 99.1 view on EDGAR → -
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New aluminum mill in Columbus, Mississippi progressing through startup: two of three cold mills operational, third expected to qualify material in July; first automotive-grade CASH line shipping for customer qualification, second line expected Q4 2026.
Exhibit 99.1 view on EDGAR → -
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Recorded $16 million asset write-down (approximately $0.08-$0.09/share impact) from relocating planned second aluminum recycling center from Arizona to Columbus, Mississippi due to differences with state officials.
Exhibit 99.1 view on EDGAR → -
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Repurchased $170 million of common stock in Q2 2026, representing 0.5% of shares outstanding, demonstrating capital return commitment while maintaining financial flexibility.
Exhibit 99.1 view on EDGAR →
Summary
Steel Dynamics provided strong Q2 2026 earnings guidance of $3.51-$3.55 per share, representing a 26-28% sequential increase from Q1's $2.78 and a 75-77% year-over-year gain. The guidance reflects robust steel operations performance driven by strong demand and metal margin expansion, as selling prices increased faster than scrap raw material costs.
Order activity remains strong across key end markets including non-residential construction, energy, automotive, and industrial, supported by persistently low steel inventories that continue to support favorable pricing conditions.
The company's strategic aluminum expansion is progressing well, with two of three cold mills now operational at the new Columbus, Mississippi facility and the third expected to begin qualifying material in July. The first automotive-grade CASH line is already shipping material for customer qualification, with the second line expected to begin qualifications in Q4 2026. The company recorded a $16 million asset write-down related to relocating its planned second aluminum recycling center from Arizona to Mississippi due to differences with state officials, reducing Q2 earnings by approximately $0.08-$0.09 per share. Steel Dynamics also repurchased $170 million of stock during the quarter, demonstrating its commitment to shareholder returns while maintaining financial flexibility for its growth initiatives.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 21, 2026 · How we verify