Steel Dynamics, Inc. (NASDAQ: STLD) issued third quarter 2026 earnings guidance on September 17, 2026, projecting earnings per diluted share between $5.34 and $5.38. This guidance reflects a significant increase compared to the sequential second quarter 2026 earnings of $3.69 per diluted share and compares favorably to the prior year third quarter earnings of $2.74 per diluted share.
The company attributes the anticipated profitability increase to metal margin expansion across its platform and record shipments. This improvement is driven by higher average realized steel selling values combined with lower scrap costs. Steel customer order activity remains strong, supported by solid underlying demand and persistently low customer inventories, which are facilitating favorable pricing conditions. Demand remains healthy across non-residential construction, energy, automotive, and industrial sectors.
Guidance for specific business segments includes:
- Steel operations: Profitability is expected to be significantly higher than sequential second quarter results.
- Metals recycling operations: Earnings are expected to be lower than sequential second quarter results due to lower metal spreads and modestly lower shipments.
- Steel fabrication operations: Earnings are expected to improve modestly from sequential second quarter results, supported by stronger shipments that will offset metal spread compression.
- Aluminum operations: Earnings are expected to improve meaningfully compared to sequential second quarter results, driven by increased shipments.
Regarding its aluminum operations, the company reports that all three cold mills at its Columbus, Mississippi facility are now operational. The first of two Continuous Annealing and Solution Heat (CASH) lines is operating and is expected to ship commercial material in the fourth quarter, with the second CASH line expected to begin producing material for customer qualification before the end of the year.
The company also reported that it has repurchased $261 million, or just under one percent, of its common stock so far during the third quarter of 2026. The company plans to release its third quarter 2026 earnings after the market closes on October 19, 2026, followed by a conference call the next day at 11:00 a.m. Eastern Daylight Time.
