Steel Dynamics Reports Fourth Quarter and Annual 2025 Results

About this update from Steel Dynamics, Inc.

[{"type":"text","content":"FORT WAYNE, Ind., Jan. 26, 2026 /PRNewswire/ --\n \n \n \n \n \n \n \nAnnual 2025 Performance Highlights:Successful production and qualifications of industrial, beverage can, and automotive quality flat rolled aluminum productsSuccessful production and consumption of biocarbon materialRecord steel shipments of 13.7 million tonsNet sales of $18.2 billion, operating income of $1.5 billion, and net income of $1.2 billionAdjusted EBITDA of $2.2 billion and cash flow from operations of $1.4 billionLiquidity of over $2.2 billionShare repurchases of $901 million of the company's common stock, representing over four percent of its outstanding sharesSteel Dynamics, Inc. (NASDAQ/GS: STLD) today announced fourth quarter and annual 2025 financial results. The company reported fourth quarter 2025 net sales of $4.4 billion and net income of $266 million, or $1.82 per diluted share. Comparatively, the company's sequential third quarter 2025 net income was $404 million, or $2.74 per diluted share, and prior year fourth quarter net income was $207 million, or $1.36 per diluted share.\"The teams delivered solid operational and financial performance across our operating platforms in 2025, generating annual net sales of $18.2 billion, operating income of $1.5 billion, and adjusted EBITDA of $2.2 billion,\" said Mark D. Millett, Chairman and Chief Executive Officer. \"This performance demonstrates the strength and consistency of our cash generation, as we generated $1.4 billion in cash flow from operations during the year, after investing $450 million in growth working capital associated with our new aluminum products platform. Our three-year after-tax return-on-invested-capital of 14 percent is a testament to our ongoing high-return capital allocation strategy. We are growing, returning capital to shareholders, and maintaining strong returns as compared to best-in-class domestic manufacturers.\"The aluminum and biocarbon teams continue to make strong progress,\" continued Millett. \"We have successfully produced finished aluminum flat-rolled products for the industrial and beverage can markets, as well as hot band for the automotive sector. Although there is still work ahead, the team has strong momentum and achieved positive EBITDA in December, positioning us well as we continue commissioning and ramping operations. Additionally, the SDI Biocarbon...

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