Steel Dynamics Lifts Q3 Profit Outlook Sharply Above Year-Ago Level
The steelmaker points to record shipments and wider metal margins as the main drivers of the improved forecast.
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Chart: STLD, one-minute prices, three sessions
Steel Dynamics says it expects third-quarter earnings of $5.34 to $5.38 per diluted share, up from $3.69 in the second quarter of 2026 and $2.74 in the same quarter a year earlier.
The company says steel operations profitability should be significantly higher, helped by wider metal margins and record shipments. It says metals recycling earnings should be lower, on weaker metal spreads.
Steel Dynamics has repurchased $261 million of common stock so far in the third quarter, just under 1% of shares outstanding. It plans to report full third-quarter results after the market closes on October 19, 2026.
The new guidance points to a 45% increase in per-share earnings from a year earlier, powered by record shipments and stronger margins in the company's core steel business. That strength comes after a recent session in which the stock fell 6.2% on concerns tied to tariff cuts, and it suggests the operational gains behind the forecast may hold up better than that earlier reaction implied.