Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when STLD files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsRed Flags Detected
- Asset Impairment (new) — The company recorded a $16 million non-cash asset impairment charge related to relocating a planned aluminum facility from Arizona to Mississippi.
Steel Dynamics reports record Q2 shipments, 79% YoY earnings growth to $534M
Filed July 21, 2026 · Period ending July 20, 2026 · ~1 min read
Key Changes
-
high
Net income rose 79% YoY to $534M ($3.69/share) and 33% sequentially from Q1, driven by record steel shipments of 3.7M tons and improved pricing ($1,298/ton, up $105 sequentially).
Exhibit 99.1 view on EDGAR → -
high
Aluminum operations shipped 53K metric tons and produced 84K metric tons of hot band; operating losses narrowed 48% sequentially to $33M as the Columbus mill ramps toward 650K-ton capacity.
Exhibit 99.1 view on EDGAR → -
high
Company returned $277M to shareholders via $200M in buybacks and $77M in dividends while generating $428M in operating cash flow and maintaining $2.0B liquidity.
Exhibit 99.1 view on EDGAR → -
medium
Recorded $16M non-cash impairment charge related to relocating planned aluminum recycled slab center from Arizona to Columbus, Mississippi.
Exhibit 99.1 view on EDGAR →
Summary
Steel Dynamics delivered strong Q2 2026 results with net income of $534 million ($3.69 per share), up 79% year-over-year and 33% sequentially, driven by record steel shipments of 3.7 million tons and improved pricing. Average steel selling prices rose $105 per ton sequentially to $1,298 while scrap costs increased only $16 per ton, expanding margins and driving steel operations income up 30% to $721 million. The company's aluminum flat-rolled mill in Columbus continued its commissioning ramp, shipping 53,000 metric tons and narrowing operating losses 48% sequentially to $33 million as automotive qualifications were secured.
The $16 million impairment charge reflects a strategic decision to relocate a planned aluminum recycling facility to Mississippi, consolidating operations near the existing Columbus mill rather than building in Arizona. While the charge is non-cash and modest relative to quarterly earnings, it signals a shift in the company's aluminum expansion footprint. Steel Dynamics returned $277 million to shareholders through $200 million in buybacks and $77 million in dividends while maintaining strong liquidity of $2.0 billion, demonstrating confidence in cash generation despite ongoing aluminum startup costs.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Steel Dynamics reported Q2 2026 financial results via press release.
Added in current filing · verify on EDGAR →
On July 20, 2026, Steel Dynamics, Inc. issued a press release titled “Steel Dynamics Reports Second Quarter 2026 Results.”
Steel Dynamics disclosed its second quarter 2026 financial results through a press release. The 8-K filing itself does not contain the actual financial figures; those are provided in the attached Exhibit 99.1 press release, which is furnished under Item 2.02 and not deemed filed for SEC purposes.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
The company reported second quarter 2026 net sales of $6.1 billion and net income of $534 million, or $3.69 per diluted share which was reduced by a $16 million non-cash asset impairment charge related to the decision to relocate the company’s planned second satellite aluminum recycled slab center from Arizona to Columbus, Mississippi. Comparatively, the company’s sequential first quarter 2026 net income was $403 million, or $2.78 per diluted share and prior year second quarter net income was $299 million, or $2.01 per diluted share.
Steel Dynamics reported Q2 2026 net sales of $6.1 billion and net income of $534 million ($3.69 per diluted share), up 33% sequentially from Q1 2026's $403 million ($2.78 per share) and up 79% year-over-year from Q2 2025's $299 million ($2.01 per share). The quarter included a $16 million non-cash impairment charge related to relocating a planned aluminum facility from Arizona to Mississippi.
Added in current filing · view on EDGAR →
Record steel shipments of 3.7 million tons
The company achieved record steel shipments of 3.7 million tons in Q2 2026, reflecting strong demand across energy, non-residential construction, automotive, industrial, and agricultural sectors. This volume milestone contributed to the sequential 30% increase in steel operations operating income to $721 million.
Added in current filing · view on EDGAR →
The company generated cash flow from operations of $428 million during the second quarter 2026. ... The company also invested $124 million in capital investments, paid cash dividends of $77 million, and repurchased $200 million of its outstanding common stock, while maintaining strong liquidity of $2.0 billion as of June 30, 2026.
Steel Dynamics generated $428 million in operating cash flow in Q2 2026 and returned $277 million to shareholders through $200 million in share repurchases and $77 million in dividends, while investing $124 million in capital projects and maintaining $2.0 billion in liquidity. For the first half of 2026, the company repurchased $315 million of stock (representing 1% of outstanding shares) and paid $149 million in dividends.
Added in current filing · view on EDGAR →
The second quarter 2026 average external product selling price for the company’s steel operations increased $105 sequentially to $1,298 per ton. The average ferrous scrap cost per ton melted at the company’s steel mills increased $16 sequentially to $412 per ton.
Steel pricing improved significantly in Q2 2026, with average external selling prices rising $105 per ton sequentially to $1,298 per ton, while ferrous scrap costs increased only $16 per ton to $412 per ton. This metal spread expansion drove a 30% sequential increase in steel operations operating income to $721 million, as pricing gains outpaced raw material cost increases.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 23, 2026 · How we verify