Steel Dynamics Provides First Quarter 2026 Earnings Guidance

The company expects higher profitability across its steel, metals recycling, and steel fabrication operations.

Mar. 17, 2026 at 4:00pm

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Steel Dynamics, Inc. (NASDAQ/GS: STLD) has provided first quarter 2026 earnings guidance in the range of $2.73 to $2.77 per diluted share. This represents a significant increase from the company's sequential fourth quarter 2025 earnings of $1.82 per diluted share and prior year first quarter earnings of $1.44 per diluted share. The improved profitability is expected to be driven by increased shipments and metal margin expansion across the company's steel, metals recycling, and steel fabrication operations.

Why it matters

Steel Dynamics is a leading industrial metals solutions company, and its earnings guidance provides insight into the strength of demand across key end markets like non-residential construction, energy, automotive, and industrial sectors. The company's performance is also an indicator of broader economic conditions and the health of the domestic steel industry.

The details

The company expects first quarter 2026 profitability from its steel operations to be meaningfully higher compared to the sequential fourth quarter, driven by increased shipments and metal margin expansion. Demand remains strong across several key end markets. Earnings from the metals recycling operations are expected to be higher than the prior quarter, based on significantly expanded metal margin. Earnings from the steel fabrication operations are expected to be steady, as higher shipments offset metal margin compression related to increased steel raw material input costs. The company's new aluminum flat rolled products mill in Columbus, Mississippi is successfully ramping up production and receiving product qualifications.

  • The company plans to release its first quarter 2026 earnings after the market closes on Monday, April 20, 2026.
  • The company will hold a conference call the next day at 11:00 a.m. Eastern Daylight Time to discuss its performance.

The players

Steel Dynamics, Inc.

A leading industrial metals solutions company with facilities located throughout the United States and in Mexico. The company operates using a circular manufacturing model, producing lower-carbon-emission, quality products with recycled scrap as the primary input.

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What’s next

The company currently plans to resume a normalized share repurchase cadence in the second quarter 2026.

The takeaway

Steel Dynamics' strong earnings guidance reflects the continued strength of demand across its key end markets, as well as the successful ramp-up of its new aluminum operations. This performance underscores the company's position as a leading diversified metals solutions provider in North America.