Steel Dynamics reported first quarter 2026 net sales of $5.2 billion and earnings of $2.78 per diluted share. This compares to net sales of $4.4 billion and EPS of $1.44 in the prior-year period.
Key Highlights
- Record steel shipments reached 3.6 million tons, driving a 73% sequential increase in steel operations operating income to $557 million.
- The metal spread for steel operations expanded as the average external selling price increased by $86 per ton sequentially, while the average ferrous scrap cost only rose by $22 per ton.
- The company's new aluminum operations posted an increased operating loss of $65 million due to startup costs, though shipments increased over 50% sequentially to 22,500 metric tons.
- The steel fabrication customer order backlog increased over 38% year-over-year, signaling strong forward demand in commercial, data center, and manufacturing sectors.