01—Abstract
Summary
Summary of the 8-K filed June 18, 2025. Cited figures are marked; the original filing is the authoritative source.
Steel Dynamics, Inc. (NASDAQ/GS: STLD) provided second quarter 2025 earnings guidance of $2.00 to $2.04a per diluted share, compared with sequential first quarter 2025 earnings of $1.44 per diluted share and prior year second quarter earnings of $2.72 per diluted share.
The company expects steel operations profitability to be significantly stronger than in the first quarter, as average realized steel pricing rose more than scrap raw material costs, expanding metal spreads across the platform. Steel segment pretax earnings will absorb an approximately $32 millionb noncash write-off of consumable assets. By segment, metals recycling earnings are expected to be steady sequentially, with stronger shipments offset by lower realized pricing.
Steel fabrication earnings are expected to be lower than in the first quarter because steel raw material costs rose and average realized sales prices modestly declined, although order activity increased and the order backlog improved, extending through 2025. Flat rolled volumes contracted modestly due to the inventory overhang from coated flat rolled steel imports. The aluminum flat rolled mill in Columbus, Mississippi and the San Luis Potosi satellite recycled slab center are being commissioned, with shipments expected to begin in mid-2025.
The company had repurchased $179 millionc of its common stock in the second quarter as of June 11, 2025. Second quarter 2025 earnings are scheduled for release after the market close on Monday, July 21, 2025, with a conference call at 11:00 a.m.
Eastern Daylight Time the following day. This filing is furnished under Item 7.01 and is not deemed filed for Section 18 purposes.
02—Key points
Key Highlights
- Q2 2025 diluted EPS guidance of $2.00 to $2.04, versus $1.44 in Q1 2025 and $2.72 in Q2 2024
- Steel operations profitability expected to be significantly stronger than Q1 2025, as realized steel pricing rose more than scrap costs
- Approximately $32 million noncash write-off of consumable assets reduces Q2 2025 steel segment pretax earnings
- Metals recycling earnings expected to be steady sequentially; steel fabrication earnings expected to be lower sequentially
- Steel fabrication order backlog improved and extends through 2025, with attractive pricing levels
- Aluminum operations in Columbus, Mississippi and San Luis Potosi, Mexico are commissioning, with shipments expected to begin mid-2025
- $179 million of common stock repurchased in Q2 2025 as of June 11, 2025
- Q2 2025 earnings release scheduled for July 21, 2025 after market close, with a call on July 22, 2025 at 11:00 a.m. EDT
03—Questions
Frequently Asked Questions
What is Steel Dynamics guiding for second quarter 2025 earnings?
The company guided to second quarter 2025 earnings of $2.00 to $2.04 per diluted share. For comparison, sequential first quarter 2025 earnings were $1.44 per diluted share and prior year second quarter earnings were $2.72 per diluted share.
Why is steel segment profitability improving?
The filing states that average realized steel pricing increased more than scrap raw material costs, which expanded metal spreads across the platform. Long product shipments improved sequentially, while flat rolled volumes contracted modestly due to inventory overhang from coated flat rolled steel imports.
Will any one-time items affect second quarter results?
Yes. Steel segment pretax earnings were reduced by approximately $32 million due to a noncash write-off of consumable assets.
What is the outlook for the company's aluminum business?
The company's aluminum team is commissioning the Columbus, Mississippi aluminum flat rolled products mill and the San Luis Potosi satellite recycled slab center. Ingots were cast in Mississippi in January and in Mexico in March 2025, and the company continues to expect to begin shipping material in mid-2025.
When will Steel Dynamics report second quarter 2025 results?
The company plans to release second quarter 2025 earnings after the markets close on Monday, July 21, 2025, and will hold a conference call the following day at 11:00 a.m. Eastern Daylight Time.
04—Continue