Steel Dynamics, Inc. (NASDAQ/GS: STLD) has reported its second quarter 2025 financial results, revealing a number of key performance highlights. The company achieved steel shipments of 3.3 million tons and reported net sales of $4.6 billion, with operating income of $383 million and net income of $299 million for the quarter. Adjusted EBITDA stood at $533 million, and the company reported cash flow from operations of $302 million.
Compared to the sequential first quarter of 2025, net income for the second quarter increased from $217 million to $299 million, showing a significant improvement. However, when compared to the prior year second quarter, net income decreased from $428 million to $299 million, indicating a decline in performance.
The company also highlighted its liquidity position, reporting $1.9 billion in liquidity as of June 30, 2025, after repaying $400 million of senior notes due in June 2025. Additionally, Steel Dynamics repurchased $200 million of its common stock, representing 1.1 percent of its outstanding shares.
In terms of specific operating segments, the company’s steel operations reported an operating income of $382 million for the second quarter of 2025, representing a 66 percent increase over the sequential first quarter results. However, the metals recycling operations generated operating income of $21 million, which was $4 million lower than sequential earnings. The steel fabrication operations recorded an operating income of $93 million, lower than the sequential first quarter results of $117 million.
Looking at the year-to-date comparison for the six months ended June 30, 2025, net income was $516 million, with net sales of $8.9 billion, compared to net income of $1.0 billion and net sales of $9.3 billion for the same period in 2024. This indicates a decrease in net sales and operating income by 4 percent and 50 percent, respectively, when compared to the same period in 2024.
The company also emphasized its cash flow from operations, reporting $454 million for the first half of 2025, and it invested $594 million in capital investments, repaid $400 million of senior notes, paid cash dividends of $144 million, and repurchased $450 million of its outstanding common stock, representing 2.4 percent of its outstanding shares, while maintaining liquidity of $1.9 billion as of June 30, 2025.
Looking ahead, the company expressed confidence in the market factors supporting strong domestic steel and aluminum product consumption in the coming years, anticipating a favorable market environment to emerge. The company also highlighted its aluminum operations, with plans to supply aluminum flat rolled products with high recycled content to various industries.
Today the company's shares have moved 2.2% to a price of $134.53. For the full picture, make sure to review STEEL DYNAMICS INC's 8-K report.
