Steel Dynamics, Inc. (NASDAQ/GS: STLD) has announced its first quarter 2026 earnings guidance, with expectations in the range of $2.73 to $2.77 per diluted share. This represents a significant increase from the sequential fourth quarter 2025 earnings of $1.82 per diluted share and the prior year first quarter earnings of $1.44 per diluted share.
The company expects increased profitability from its steel operations in the first quarter of 2026, driven by higher shipments and metal margin expansion. Average realized selling values have increased more than scrap raw material costs, with strong demand across non-residential construction, energy, automotive, and industrial sectors.
Earnings from the company's metals recycling operations are also anticipated to be higher than the sequential fourth quarter results, supported by significantly expanded metal margin driven by higher ferrous and nonferrous average selling values.
Steel fabrication operations are expected to maintain steady earnings with higher shipments offsetting metal margin compression related to increased steel raw material input costs. The company has seen a significant increase in customer order activity, with the customer order backlog over 35 percent higher than a year ago and extending well into the third quarter of 2026.
The aluminum team at Steel Dynamics is making progress with the commissioning and startup of the company’s Columbus, Mississippi aluminum flat rolled products mill. The team received product qualifications from several can sheet consumers and produced and received qualifications for aluminum hot band for use in automotive applications.
During the first quarter of 2026, the company repurchased an estimated $66 million of its common stock, though it temporarily slowed the cadence of its share repurchase program due to significant working capital funding related to its annual profit-sharing payment and a meaningful increase in working capital related to the quicker than anticipated ramp in its aluminum operations coupled with increasing aluminum prices. The company plans to resume a normalized share repurchase cadence in the second quarter of 2026.
Steel Dynamics is scheduled to release its first quarter 2026 earnings after the market closes on Monday, April 20, 2026, and will hold a conference call the next day to discuss the company's performance. Following these announcements, the company's shares moved -0.87%, and are now trading at a price of $173.58. If you want to know more, read the company's complete 8-K report here.
