Steel Dynamics (STLD) Q4 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Steel Dynamics posted a mixed but broadly encouraging fourth quarter, beating Wall Street's earnings expectations even as revenue fell short of forecasts. The Fort Wayne-based steelmaker reported diluted EPS of $1.82, topping the $1.69 consensus esti… Read more Steel Dynamics posted a mixed but broadly encouraging fourth quarter, beating Wall Street's earnings expectations even as revenue fell short of forecasts. The Fort Wayne-based steelmaker reported diluted EPS of $1.82, topping the $1.69 consensus estimate by 7.92%, while net sales of $4.41 billion trailed the $4.53 billion estimate by 2.60%, though still reflected 14.0% growth from the year-ago period. The earnings beat came despite meaningful operational headwinds: extended planned maintenance outages at the company's flat rolled mills reduced production by an estimated 140,000 to 150,000 tons, and average external steel selling prices slipped $12.00 sequentially to $1,107 per ton. A notable strategic inflection arrived in December, when the newly commissioned Columbus, Mississippi aluminum mill achieved positive EBITDA for the first time, even as the segment posted a $47.10 million operating loss for the full quarter. Looking ahead, management cited improving steel pricing, manufacturing onshoring, infrastructure momentum, and a solid fabrication order backlog extending through the first half of 2026 as reasons for measured optimism heading into the new year.