01—Abstract
Summary
Summary of the 8-K filed June 18, 2026. Cited figures are marked; the original filing is the authoritative source.
Steel Dynamics, Inc. (NASDAQ/GS: STLD) furnished a Form 8-K dated June 18, 2026, attaching a June 17, 2026 press release that provides second quarter 2026 earnings guidance of $3.51 to $3.55a per diluted share.
For comparison, the company cited first quarter 2026 earnings of $2.78b per diluted share and prior year second quarter earnings of $2.01 per diluted share. The guidance reflects a $16 million reduction in estimated second quarter earnings from asset write-downs tied to relocating the planned second satellite aluminum recycled slab center from Arizona to Columbus, Mississippi, following differences with Arizona state officials. Management expects second quarter steel operations profitability to be meaningfully higher than the first quarter, driven by strong demand and metal margin expansion, with realized selling values rising more than scrap costs.
Metals recycling earnings are expected to be similar to the first quarter, as higher shipments are offset by nonferrous unrealized hedging losses. Steel fabrication earnings are expected to be incrementally below the first quarter due to higher steel input costs, though its order backlog is stated as nearly 40%c higher than a year ago. Aluminum earnings are expected to improve significantly on higher shipments and pricing, as the Columbus, Mississippi flat rolled products mill continues commissioning, with two of three cold mills operational.
The company also stated it repurchased $170 milliond, or one half of one percent, of its common stock during the second quarter of 2026. Second quarter results are scheduled for release after market close on July 20, 2026, with a conference call the following day at 11:00 a.m. Eastern Daylight Time.
02—Key points
Key Highlights
- Q2 2026 diluted EPS guidance of $3.51 to $3.55, versus $2.78 in Q1 2026 and $2.01 in Q2 2025
- Estimated Q2 earnings reduced by $16 million due to asset write-downs from relocating the second satellite aluminum recycled slab center from Arizona to Columbus, Mississippi
- Steel operations profitability expected to be meaningfully higher than Q1, driven by metal margin expansion as realized selling values rose more than scrap costs
- Steel fabrication order backlog is nearly 40% higher than a year ago and extends through the end of 2026 and into 2027
- Aluminum earnings expected to improve significantly on higher shipments and pricing; two of three cold mills in Columbus, Mississippi are operational
- Metals recycling earnings expected to be similar to Q1, with nonferrous unrealized hedging losses offsetting higher shipments
- Company repurchased $170 million, or one half of one percent, of its common stock during Q2 2026; Q2 results due July 20, 2026
03—Questions
Frequently Asked Questions
What is Steel Dynamics' second quarter 2026 earnings guidance?
The company guided to second quarter 2026 earnings of $3.51 to $3.55 per diluted share, compared with $2.78 in the first quarter of 2026 and $2.01 in the prior year second quarter.
Why were second quarter earnings reduced?
Estimated second quarter earnings were reduced by $16 million due to asset write-downs related to the decision to relocate the planned second satellite aluminum recycled slab center from Arizona to Columbus, Mississippi, because differences with Arizona state officials risked the facility's construction and operations.
How are the company's individual segments expected to perform in Q2 2026?
Steel operations are expected to be meaningfully higher than Q1, metals recycling similar to Q1, steel fabrication incrementally below Q1, and aluminum significantly improved over Q1 on higher shipments and pricing.
What is the status of the aluminum flat rolled products mill in Columbus, Mississippi?
Two of the three cold mills are operational, with the third expected to begin qualifying material in July. The first of two Continuous Annealing and Solution Heat (CASH) lines is operating and shipping material for customer qualification, and the second is expected to begin material qualifications in the fourth quarter of 2026.
When will Steel Dynamics report full second quarter 2026 results?
The company plans to release second quarter 2026 earnings after market close on July 20, 2026, and will hold a conference call the next day at 11:00 a.m. Eastern Daylight Time.
04—Continue