Steel Dynamics said it expects third-quarter 2026 earnings of $5.34 to $5.38 a diluted share, up from $3.69 in the second quarter and $2.74 in the same quarter a year earlier.
The company said its steel operations should deliver significantly higher profit than in the second quarter, helped by expanding metal margins and record shipments. It expects average realized steel selling values to rise while scrap costs decline, with strong customer order activity and low inventories supporting pricing. Demand was described as solid across non-residential construction, energy, automotive and industrial markets.
Metals recycling earnings are expected to fall from the second quarter because of lower metal spreads and slightly lower shipments.
Steel fabrication earnings are expected to improve modestly from the second quarter, supported by stronger shipments. The company said its backlog is nearly 50% above year-ago levels and runs through the first quarter of 2027. It cited demand in commercial construction, data centers, warehouses, manufacturing and healthcare.
Aluminum earnings are expected to improve meaningfully from the second quarter on higher shipments. Steel Dynamics said all three cold mills at its Columbus, Mississippi aluminum flat rolled products mill are now operating. The first of two continuous annealing and solution heat lines is running and is expected to ship commercial material in the fourth quarter, while the second line should begin producing material for customer qualification before year-end.
Steel Dynamics also said it has repurchased $261 million of stock in the third quarter so far, equal to just under 1% of its common shares. The company plans to report third-quarter results after the market closes on Oct. 19 and hold a conference call the next day. As a result of these announcements, the company's shares have moved -3.82% on the market, and are now trading at a price of $235.985. If you want to know more, read the company's complete 8-K report here.
