Steel Dynamics, Inc. (NASDAQ/GS: STLD) has reported its third quarter 2025 financial results, with net sales of $4.8 billion and net income of $404 million, or $2.74 per diluted share. This represents an improvement from the sequential second quarter 2025 net income of $299 million, or $2.01 per diluted share and the prior year third quarter net income of $318 million, or $2.05 per diluted share.
The company achieved a 33 percent improvement in consolidated operating income and a 24 percent increase in adjusted EBITDA sequentially. Notably, it recorded record steel shipments of 3.6 million tons during the third quarter.
For the year-to-date period ending September 30, 2025, Steel Dynamics reported net income of $920 million, or $6.17 per diluted share, with net sales of $13.8 billion. This represents a decrease from the prior year period, where net income was $1.3 billion, or $8.46 per diluted share, with net sales of $13.7 billion.
The company's liquidity position remained strong, with over $2.2 billion in liquidity as of September 30, 2025. Notably, it repurchased $210 million of its common stock during the quarter, representing 1.1 percent of its outstanding shares.
In terms of specific operational highlights, the company's aluminum and biocarbon teams achieved significant milestones, including the production and qualification of industrial, beverage can, and automotive quality flat rolled aluminum products, as well as the successful production and consumption of biocarbon material.
Looking ahead, the company anticipates benefiting from stronger demand across its platforms, including aluminum flat rolled products, as it moves into 2026. The management is optimistic about the market conditions, expecting increased trade stability and a more favorable interest rate environment to contribute to strong domestic demand for steel and aluminum products.
Mark D. Millett, Chairman and Chief Executive Officer of Steel Dynamics, emphasized the company's commitment to prioritizing the safety and well-being of its teams while delivering superior value to its team members, customers, and shareholders.
The company will hold a conference call on Tuesday, October 21, 2025, to discuss these results in detail.
Steel Dynamics, Inc. is a leading industrial metals solutions company operating with a circular manufacturing model, producing quality products with recycled scrap as the primary input. It is one of the largest domestic steel producers and metal recyclers in North America, with a meaningful downstream steel fabrication platform. The company is also investing in aluminum operations to further diversify its product offerings.
It's noteworthy that all financial metrics mentioned are based on U.S. Generally Accepted Accounting Principles (GAAP) and the company believes that after-tax return-on-invested capital (after-tax ROIC) provides an indication of the effectiveness of its invested capital. Additionally, the company uses non-GAAP financial measures such as EBITDA and adjusted EBITDA to provide additional meaningful information regarding its performance and financial strength. Today the company's shares have moved 2.47% to a price of $146.28. Check out the company's full 8-K submission here.
