Steel Dynamics Reports Second Quarter 2026 Results

About this update from Steel Dynamics, Inc.

FORT WAYNE, Ind., July 20, 2026 /PRNewswire/ -- Second Quarter 2026 Performance Highlights:Record steel shipments of 3.7 million tonsContinued commissioning and increased production from aluminum flat rolled sheet operations  Net sales of $6.1 billion, operating income of $700 million, and net income of $534 millionAdjusted EBITDA of $921 million and cash flow from operations of $428 millionShare repurchases of $200 million of the company's common stockSteel Dynamics, Inc. (NASDAQ/GS: STLD) today announced second quarter 2026 financial results. The company reported second quarter 2026 net sales of $6.1 billion and net income of $534 million, or $3.69 per diluted share which was reduced by a $16 million non-cash asset impairment charge related to the decision to relocate the company's planned second satellite aluminum recycled slab center from Arizona to Columbus, Mississippi. Comparatively, the company's sequential first quarter 2026 net income was $403 million, or $2.78 per diluted share and prior year second quarter net income was $299 million, or $2.01 per diluted share."During the second quarter 2026 steel pricing continued to improve resulting in strong performance across our steel platform, driving a sequential quarterly increase in consolidated operating income of $162 million, or 30 percent," said Mark D. Millett, Chairman and Chief Executive Officer. "Our metals recycling, steel fabrication, and aluminum teams also had a solid performance. Our three-year after-tax return-on-invested capital of 13 percent is a testament to our ongoing high-return capital allocation execution. We are growing, returning capital to shareholders, and maintaining strong returns with best-in-class performance compared to domestic manufacturers."Steel fundamentals continued to strengthen during the second quarter, as pricing improved, demand remained solid, and customer inventory levels declined, remaining lower than historical norms," said Millett. "Steel backlogs and lead times have also extended. Additionally, value-added flat-rolled steel spreads expanded in the quarter. We continue to see an improved steel market environment, supported by domestic trade actions, manufacturing reshoring, infrastructure program funding, and the increasing regionalization of supply chains within the United States. Long-product steel demand remains extremely strong, particular...

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