Steel Dynamics Provides Third Quarter 2026 Earnings Guidance
Steel Dynamics guided third quarter 2026 earnings to $5.34 to $5.38 per diluted share, up sharply from $3.69 in the second quarter of 2026 and $2.74 in the prior-year third quarter. Steel operations profitability is expected to be significantly higher sequentially, driven by metal margin expansion across the platform and record shipments, with rising realized selling values paired with lower scrap costs. Fabrication earnings should improve modestly with backlog nearly 50 percent above prior-year levels extending through Q1 2027, while metals recycling earnings are expected to decline on lower metal spreads.
Key figures
- Eps
- $5.34 to $5.38 per diluted share (Q3 2026 guidance range)
- Guidance
- Q3 2026 EPS $5.34-$5.38 per diluted share
- Q2 2026 eps
- 3.69
- Q3 2025 eps
- 2.74
- Buyback pct of shares
- just under one percent
- Q3 2026 buyback to date
- $261 million
- Fabrication backlog vs prior year q3
- nearly 50 percent higher, extending through Q1 2027
AI analysis
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