STLD · Steel Dynamics

590 filings

STLD SEC Filings

Steel Dynamics - 590 total filings

Filing record · 2016–202610-K1110-Q348-K207

Showing 1–50 of 590 filings

Steel Dynamics Quarterly Report for Q3 Ended Sep 30, 2026

Steel Dynamics, Inc. (STLD) reported a sharply higher third quarter of 2026, with net sales of $6.51 billion, up from $4.83 billion in the third quarter of 2025, and operating income of $1.01 billion, compared with $507.8 million a year earlier. Net income attributable to Steel Dynamics, Inc. was $756.0 million, or $5.26 per diluted share, versus $403.7 million, or $2.74 per diluted share, in the prior-year quarter. The filing attributes the improvement primarily to steel operations, where average selling prices rose 25% (about $282 per ton) while scrap costs rose less, widening metal spreads. The company also cited record quarterly total steel shipments of 3.8 million tons. Not all segments improved. Steel fabrication operating income fell 15% to $90.6 million on rising steel input costs, and profit sharing expense rose to $81.3 million for the quarter. Interest expense increased to $39.3 million, reflecting lower capitalized interest as construction of the aluminum flat rolled products mill was substantially completed in 2025. The aluminum operations segment, which is still commissioning, shipped 55,000 metric tons of finished product in the quarter and continued to post an operating loss of $26.2 million. Balance sheet and cash flow remained solid. Cash and equivalents were $928.6 million and total liquidity was $2.37 billion at September 30, 2026, including $1.19 billion of Revolver availability with no borrowings outstanding. Total outstanding debt of $4.2 billion was unchanged from December 31, 2025, and the company stated it was in compliance with its financial covenants. Nine-month operating cash flow was $1.42 billion, and the company repurchased $590.9 million of stock and paid $225.1 million in dividends during the period.

Oct 23, 2026 8-K

Steel Dynamics 8-K Report, Financial Results (Oct 20, 2026)

Steel Dynamics, Inc. reported third quarter 2026 results in a press release furnished as Exhibit 99.1 to this Form 8-K. Net sales were $6.5 billion, operating income was $1.0 billion, and net income was $756 million, or $5.26 per diluted share. Adjusted EBITDA was $1.2 billion and cash flow from operations was $846 million. Management said steel prices continued to improve during the quarter, with sequential operating income up $306 million, or 44 percent, on record steel shipments of 3.8 million tons and expanded metal spreads. The steel fabrication segment's order backlog was described as 50 percent higher than a year earlier. For the first nine months of 2026, net sales rose 29 percent to $17.8 billion and operating income rose 93 percent to $2.2 billion, driven by higher realized steel pricing and shipments. Net income for the period was $1.7 billion, or $11.72 per diluted share, compared with $920 million, or $6.17 per diluted share, a year earlier. Aluminum operations remained in startup, with a third-quarter operating loss of $26 million and EBITDA breakeven for the quarter. Management said the first of two continuous annealing and solution heat (CASH) lines is expected to ship finished automotive products before year-end, and the second is expected to become operational early in the first quarter of 2027. During the quarter the company repurchased $276 million of its common stock, paid $76 million in dividends, and invested $150 million in capital expenditures, ending September 30, 2026 with liquidity of $2.4 billion. Management expressed optimism about steel and aluminum demand into 2027 and beyond, citing infrastructure, manufacturing, energy, and data center investment, while noting that additional domestic capacity may enter the market in coming years.

Oct 20, 2026 8-K

Steel Dynamics 8-K Report, Corporate Update (Oct 19, 2026)

Steel Dynamics, Inc. filed this Form 8-K on October 19, 2026 under Item 8.01 (Other Events) to furnish a press release titled "Steel Dynamics Announces Leadership Promotions" as Exhibit 99.1. The announcement is a leadership and talent development update rather than a financial disclosure; the filing contains no financial results, guidance, or financial statements. The press release states that Chad Bickford, Jeff Hansen, and Tommy Scruggs were promoted to Senior Vice President effective October 1, 2026, with Bickford continuing to lead steel fabrication with added influence over overall growth strategy, Hansen retaining environmental sustainability and decarbonization responsibilities (including the renewable biocarbon facility) with added influence over energy strategy, and Scruggs continuing to lead Flat Roll commercial operations, including the newly acquired New Process Steel operations. Effective November 1, 2026, Daniel Keown is named Senior Vice President of Flat Rolled Steel Production, Yury Krotov is named Vice President of Long Products Steel Operations, and Dominic Freiburger is named Vice President and Treasurer. The release references "recent leadership changes announced in August" and names Rick Poinsatte as incoming Chief Financial Officer and Theresa E. Wagler as incoming President and Chief Executive Officer. For investors, the key takeaway is organizational: the company is reinforcing its operating and commercial leadership bench and assigning clearer ownership of flat rolled production, long products, and treasury. The filing does not quantify any financial impact of these changes.

Oct 19, 2026 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Sep 18, 2026)

Steel Dynamics, Inc. furnished a Form 8-K on September 18, 2026 (Item 7.01, Regulation FD) attaching a September 17, 2026 press release that provides third quarter 2026 earnings guidance of $5.34 to $5.38 per diluted share. The company compares this with sequential second quarter 2026 earnings of $3.69 per diluted share and prior year third quarter earnings of $2.74 per diluted share. The information is furnished, not filed, under Section 18 of the Exchange Act. By segment, the company expects steel operations profitability to be significantly higher than in the second quarter, driven by metal margin expansion across the platform and record shipments, with average realized steel selling values expected to rise alongside lower scrap costs. Metals recycling earnings are expected to be lower sequentially due to lower metal spreads and modestly lower shipments. Steel fabrication earnings are expected to improve modestly, and the current backlog is described as nearly 50 percent higher than prior-year third quarter levels and extending through the first quarter of 2027. Aluminum earnings are expected to improve meaningfully on higher shipments, with the first of two CASH lines at the Columbus, Mississippi flat rolled products mill operating and expected to ship commercial material in the fourth quarter. The company also reported repurchasing $261 million, or just under one percent, of its common stock so far in the third quarter of 2026, and plans to release third quarter earnings after the market closes on October 19, 2026, with a conference call the next day at 11:00 a.m. Eastern Daylight Time.

Sep 18, 2026 8-K

Steel Dynamics 8-K/A Report, Executive Changes (Aug 18, 2026)

Steel Dynamics, Inc. (STLD) filed Amendment No. 1 to its Current Report on Form 8-K, which amends the company's August 4, 2026 Form 8-K. The Explanatory Note states that the earlier report addressed, among other things, Mark D. Millett's planned retirement as Chief Executive Officer effective January 1, 2027, and related leadership transitions. The substantive disclosure under Item 5.02 concerns one-time transition awards. At a meeting held on August 12, 2026, the Compensation Committee of the Board of Directors approved restricted stock unit grants to Barry Schneider and Christopher Graham. Each will receive restricted stock units valued at $2,000,000, to be granted on December 15, 2026. Half of each award vests on December 15, 2028 and the other half vests on December 15, 2029. Vesting in each case is subject to the executive remaining currently employed by the company. For investors, the filing is narrow in scope. It discloses retention-oriented equity compensation tied to continued employment through the leadership transition, with vesting extending to December 2029. The filing does not contain financial results or other operating metrics.

Aug 18, 2026 8-K

Steel Dynamics 8-K Report, Corporate Update (Aug 14, 2026)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) filed this Form 8-K on August 14, 2026 under Item 8.01 (Other Events) to furnish a press release announcing that its board of directors declared a third quarter 2026 cash dividend. The filing states that the dividend is $0.53 per common share. It is payable to shareholders of record at the close of business on September 30, 2026, and is expected to be paid on or about October 9, 2026. The filing is otherwise limited in scope. Its exhibit describes the company as a leading industrial metals solutions company with facilities in the United States and Mexico, operating a circular manufacturing model that uses recycled scrap as its primary input. The company also notes it has recently added aluminum operations supplying flat rolled products with higher recycled content to the beverage can, automotive and industrial sectors. The 8-K contains no financial results, guidance, or other quantitative disclosures beyond the dividend terms. For investors, the principal takeaway is the declaration of a regular quarterly dividend of $0.53 per share with defined record and payment dates. The filing is signed by Theresa E. Wagler, Executive Vice President and Chief Financial Officer.

Aug 14, 2026 8-K

Steel Dynamics 8-K Report, Executive Changes (Aug 4, 2026)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) disclosed in an 8-K filed August 4, 2026 that Chairman and CEO Mark D. Millett has given notice of his intention to retire as Chief Executive Officer effective January 1, 2027. Concurrently, he will become Executive Chairman. Theresa E. Wagler, currently Executive Vice President and Chief Financial Officer, will become President and Chief Executive Officer on that date, and was appointed to the Board immediately, increasing its size from seven to eight members. Richard A. Poinsatte, Executive Vice President and Treasurer, will succeed Wagler as Executive Vice President and Chief Financial Officer effective January 1, 2027. The filing also announces senior leadership changes effective September 1, 2026. Barry Schneider becomes Executive Vice President and Chief Technology Officer, a newly added role that also takes on oversight of the company's decarbonization strategy, safety and information technology. Miguel Alvarez, James Anderson and Christopher Graham are promoted to Executive Vice President and Chief Operating Officer roles covering, respectively, Aluminum Flat Rolled Products and Metals Recycling Operations, Construction Products Operations, and Flat Rolled Steel Operations. The company states the appointments follow a succession planning process, and that any material changes to the compensation of Millett, Wagler or Poinsatte will be determined by the Compensation Committee, with an amendment to this report to follow if required. The press release attached as Exhibit 99.1 quotes Lead Independent Director Kenneth Cornew, who describes the appointments as recognizing Wagler's leadership and reflecting confidence in her ability to lead the company into its next chapter. Wagler has served as Executive Vice President and CFO since 2007 and joined the company in 1998.

Aug 4, 2026 10-Q

Steel Dynamics Quarterly Report for Q2 Ended Jun 30, 2026

Steel Dynamics, Inc. (SDI) reported a sharp year-over-year improvement in its second quarter ended June 30, 2026. Net sales rose to $6.09 billion from $4.57 billion, and operating income increased to $700.5 million from $382.9 million, an increase of 83%. Net income attributable to Steel Dynamics, Inc. was $534.1 million, or $3.69 diluted earnings per share, compared with $298.7 million, or $2.01 per diluted share, in the second quarter of 2025. For the first half of 2026, net sales were $11.30 billion and net income attributable to Steel Dynamics, Inc. was $937.5 million, or $6.47 per diluted share. The filing attributes the gains primarily to expanded metal spreads in the steel operations, with steel segment average selling prices up 14% and shipments up 7% in the quarter. The steel operations segment generated operating income of $719.8 million in the quarter, up 89%, while the metals recycling segment's operating income rose 125% to $47.8 million. The steel fabrication segment's operating income declined 9%, reflecting rising steel input costs, and the aluminum operations segment posted an operating loss of $49.8 million as its flat-rolled mill continued commissioning and startup. Management reports record quarterly steel shipments of 3.7 million tons and states that the aluminum mill shipped 53,000 metric tons of finished product in the quarter. Balance-sheet and cash-flow items were mixed. Cash and equivalents were $567.7 million, total liquidity was $2.01 billion, and total debt was $4.2 billion, unchanged from December 31, 2025. Operating cash flow for the first half was $576.3 million, and capital expenditures were $261.8 million, down from $593.8 million a year earlier. Share repurchases totaled $315.4 million in the first half, with $488.7 million remaining under the February 2025 program. Quarterly dividends were increased 6% to $0.53 per share.

Jul 28, 2026 8-K

Steel Dynamics 8-K Report, Financial Results (Jul 21, 2026)

Steel Dynamics, Inc. (STLD) furnished a press release reporting second quarter 2026 results, dated July 20, 2026. The company reported net sales of $6.1 billion, operating income of $700 million, and net income attributable to Steel Dynamics of $534 million, or $3.69 per diluted share. Results include a $16 million non-cash asset impairment charge tied to relocating a planned second satellite aluminum recycled slab center from Arizona to Columbus, Mississippi. Adjusted EBITDA was $921 million and cash flow from operations was $428 million. Management cited record steel shipments of 3.7 million tons and steel operating income of $721 million, up 30% sequentially on higher steel pricing that outpaced scrap costs. For the first half of 2026, net income attributable to Steel Dynamics was $938 million, or $6.47 per diluted share, on net sales of $11.3 billion, versus $516 million, or $3.44 per diluted share, in the first half of 2025. Operating income rose 88% to $1.2 billion. The company repurchased $315 million of common stock in the first half and ended the period with liquidity of $2.0 billion. Aluminum operations remained loss-making in the quarter, with an operating loss of $33 million, but management expects volumes and profitability to rise sharply in the second half of 2026 and in full-year 2027 as startup costs subside and the third cold mill ramps toward full capacity of 650,000 metric tons. Management stated that steel fundamentals continued to strengthen, with improved pricing, solid demand, lower customer inventories, and extended backlogs and lead times. The company said automotive aluminum sales are expected to commence before the end of 2026. The results are furnished under Item 2.02 and are not deemed filed for Section 18 purposes.

Jul 21, 2026 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Jun 18, 2026)

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 $3.55 per diluted share. For comparison, the company cited first quarter 2026 earnings of $2.78 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% 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 million, 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.

Jun 18, 2026 8-K

Steel Dynamics 8-K Report, Shareholder Vote Results (May 8, 2026)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) filed this Form 8-K to report the results of its Annual Meeting of Shareholders held May 6, 2026, and to furnish a press release announcing its second quarter 2026 cash dividend. A quorum was present, with 130,419,078 of the 144,722,225 shares outstanding as of the March 16, 2026 record date represented in person or by proxy. Shareholders elected all seven director nominees to one-year terms, ratified Ernst & Young LLP as auditor for the year ending December 31, 2026, and approved, on an advisory basis, named executive officer compensation for 2025. Shareholders did not approve the shareholder proposal titled "Avoid Political Spending Brand Damage," which received 47,896,886 votes for and 73,898,052 votes against. Board-level governance outcomes were therefore routine, with all nominees receiving majority support in the vote counts shown, though several directors received notably higher vote-against or abstention totals than others. Separately, the board declared a second quarter cash dividend of $0.53 per common share, payable July 10, 2026 (or on or about that date) to shareholders of record at the close of business on June 30, 2026. The filing itself contains no financial results beyond these items.

May 8, 2026 10-Q

Steel Dynamics Quarterly Report for Q1 Ended Mar 31, 2026

Steel Dynamics, Inc. (STLD) reported a sharp improvement in first-quarter 2026 results. Net sales rose to $5.20 billion from $4.37 billion in the first quarter of 2025, and operating income increased to $538.0 million from $275.1 million. Net income attributable to Steel Dynamics, Inc. was $403.4 million, or $2.78 per diluted share, versus $217.2 million, or $1.44 per diluted share, a year earlier. Management attributes the gains mainly to expanded metal spreads in the steel and metals recycling operations, and states that steel shipments reached a record 3.6 million tons with underlying domestic demand strengthening and backlogs increasing. The steel operations segment drove most of the improvement, with operating income of $555.5 million compared with $228.9 million in the prior-year quarter. Steel fabrication operating income declined to $89.5 million from $116.7 million as metal spreads contracted. The aluminum operations segment, which is still ramping up its recycled aluminum flat rolled mill, posted an operating loss of $64.6 million, and management says operations were temporarily paused to resolve startup issues. The balance sheet and liquidity remain solid. Cash and equivalents were $556.5 million, total liquidity was $2.0 billion including $1.19 billion of Revolver availability, and total outstanding debt was $4.2 billion, unchanged from year-end 2025. Operating cash flow was $148.3 million, reflecting a $373.8 million increase in accounts receivable and a $169.6 million increase in inventories. The company repurchased $115.1 million of stock and paid $72.5 million in dividends, and it raised its quarterly dividend to $0.53 per share.

Apr 27, 2026 8-K

Steel Dynamics 8-K Report, Financial Results (Apr 21, 2026)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) furnished a press release reporting first quarter 2026 results, issued April 20, 2026 and filed under Item 2.02 of this 8-K. The company reported record steel shipments of 3.6 million tons, net sales of $5.20 billion, operating income of $538.0 million, net income attributable to Steel Dynamics of $403.4 million, or $2.78 per diluted share, and Adjusted EBITDA of $699.9 million. Compared with the sequential fourth quarter of 2025, net income attributable to the company rose from $266.0 million ($1.82 per diluted share), and operating income increased $228 million, or 73 percent, year over year, driven by record shipments and higher steel prices. Steel operating income was $557 million, and the company said steel pricing rose more than ferrous scrap costs. Aluminum operations remained a drag, with a first quarter operating loss of $65 million as the company commissioned its Columbus, Mississippi aluminum flat rolled mill and its San Luis Potosi, Mexico satellite recycled aluminum slab center. Management said an January startup pause and inventory write-off affected results, and expects shipments and earnings to increase sharply in the second quarter of 2026. The third cold mill and second CASH line are scheduled to commission in the third quarter of 2026. Steel fabrication operating income was $90 million, with its customer order backlog stated as over 38 percent higher than a year ago. Cash flow from operations was $148 million after a $120 million annual companywide retirement profit-sharing distribution, and working capital (excluding profit-sharing and income taxes) increased $413 million. The company invested $138 million in capital expenditures, paid $72 million in dividends, repurchased $115 million of common stock, and reported liquidity of $2.0 billion as of March 31, 2026. The release also announced a six percent increase in the first quarter 2026 cash dividend, with dividends declared per share of $0.53 versus $0.50 a year earlier.

Apr 21, 2026 8-K

Steel Dynamics 8-K Report, Executive Changes (Mar 27, 2026)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) disclosed in this Form 8-K, filed March 27, 2026, that directors Richard P. Teets, Jr. and Gabriel L. Shaheen informed the Board on March 25, 2026 of their intention to retire from the Board at the end of their current term and not stand for reelection at the 2026 Annual Meeting. Neither decision resulted from any disagreement with the Company on its operations, policies or practices. Effective at the 2026 Annual Meeting, the Board will be reduced from nine to seven members. The company also furnished a press release dated March 27, 2026 (Exhibit 99.1), furnished under Item 7.01 and not deemed filed, that thanks both directors for their service. The release states that the retirements take effect at the Annual Meeting of Shareholders on May 6, 2026. It describes Teets as a co-founder and longtime board member, and Shaheen as a long-standing board member who served for over sixteen years. The filing contains no financial results, guidance, or operational metrics. Its investor relevance is limited to board composition and governance changes ahead of the May 2026 annual meeting.

Mar 27, 2026 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Mar 18, 2026)

Steel Dynamics, Inc. furnished a press release dated March 17, 2026 under Item 7.01 of this Form 8-K, providing first quarter 2026 earnings guidance of $2.73 to $2.77 per diluted share. That compares with $1.82 per diluted share for sequential fourth quarter 2025 and $1.44 per diluted share for first quarter 2025. The company said steel operations profitability is expected to be meaningfully higher than in the fourth quarter, driven by increased shipments and metal margin expansion, while metals recycling earnings are expected to be higher on significantly expanded metal margins despite somewhat lower shipments due to winter weather. Steel fabrication earnings are expected to be steady sequentially, with customer order backlog over 35 percent higher than a year ago. The release also reports progress on the Columbus, Mississippi aluminum flat rolled products mill, which has produced finished products for industrial and beverage can sectors and has received several can sheet product qualifications, with additional qualifications ongoing. On capital allocation, the company estimates it repurchased about $66 million of common stock so far in the first quarter, and it temporarily slowed its buyback cadence due to roughly $126 million in annual profit-sharing payments and higher working capital tied to the aluminum ramp and rising aluminum prices. It plans to resume a normalized repurchase cadence in the second quarter of 2026. The company plans to release first quarter 2026 results after market close on Monday, April 20, 2026, with a conference call the following day at 11:00 a.m. Eastern Daylight Time.

Mar 18, 2026 10-K

Steel Dynamics Annual Report, Year Ended Dec 31, 2025

Steel Dynamics, Inc. reported record 2025 steel shipments of 13.7 million tons, up 9%, but net income fell as metal spreads compressed. Net sales rose 4% to $18.18 billion, while operating income dropped 24% to $1.48 billion and net income attributable to Steel Dynamics decreased 23% to $1.19 billion. Diluted EPS was $7.99 versus $9.84 in 2024. Steel operations operating income fell 10% to $1.43 billion and steel fabrication operating income fell 39% to $407.4 million, while metals recycling operating income rose 27% to $97.2 million. The balance sheet expanded materially. Total debt reached $4.2 billion after $980.2 million of net new borrowings tied to senior notes issued in March and November 2025. The long-term debt to capitalization ratio rose to 32.1% from 26.5%. Liquidity totaled $2.2 billion at year-end, including $1.19 billion of revolver availability. Capital expenditures fell to $948.0 million from $1.9 billion, primarily for the aluminum and steel segments. Cash flow from operations was $1.4 billion, and the company returned capital through $291.2 million of dividends paid and $900.9 million of share repurchases. The filing highlights the start-up of the recycled aluminum flat rolled products mill in Columbus, Mississippi, which began shipping in the second half of 2025, and the December 1, 2025 acquisition of the remaining 55% of New Process Steel, L.P. for $229 million in cash. Aluminum operations sales rose 49% to $473.9 million but operating loss widened to $173.0 million. Ernst & Young issued an unqualified opinion on both the financial statements and internal control over financial reporting.

Feb 27, 2026 8-K

Steel Dynamics 8-K Report, Corporate Update (Feb 23, 2026)

Steel Dynamics, Inc. filed a Form 8-K on February 23, 2026 under Item 8.01 (Other Events) to furnish a press release dated February 20, 2026, announcing that its board declared a first quarter 2026 cash dividend of $0.53 per common share. The filing states this represents a 6% increase over the company's 2025 quarterly rate. The dividend is payable on or about April 10, 2026 to shareholders of record at the close of business on March 31, 2026. In the accompanying press release, Chairman and CEO Mark D. Millett attributes the increase to the Board's and senior leadership's confidence in the consistency and strength of the company's cash generation capabilities. He states the company has consistently increased its cash dividend in alignment with its growth initiatives, and that the action reflects the strength of its capital structure and liquidity profile and its continued commitment to maintaining an investment grade credit rating. The press release describes Steel Dynamics as a leading industrial metals solutions company with facilities in the United States and Mexico, operating a circular manufacturing model that uses recycled scrap as its primary input, with aluminum operations that supply recycled-content flat rolled products to the beverage can, automotive and industrial sectors. The filing itself contains no financial results beyond the dividend declaration, and it is signed by Theresa E. Wagler, Executive Vice President and Chief Financial Officer.

Feb 23, 2026 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Feb 17, 2026)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) furnished this Form 8-K under Item 7.01 (Regulation FD Disclosure) to attach a joint press release issued with SGH Ltd on February 17, 2026. The release confirms that SGH and Steel Dynamics have submitted a revised Non-Binding Indicative Offer (NBIO) to acquire 100% of BlueScope Steel Ltd (ASX: BSL) at A$32.35 per share, described as their best and final offer in the absence of a superior competing proposal for all or a material part of BSL. The offer values BSL's total equity at A$15 billion (US$11 billion), to be paid entirely in cash. The filing notes that the price is equivalent to A$34.00 before deductions of A$1.65 per share, consisting of a A$1.00 unfranked special dividend and a A$0.65 unfranked interim dividend. The release cites premiums of 47% to BSL's adjusted closing price at the initial proposal, 14% above the adjusted initial proposal price of A$28.35, 56% to the 52-week VWAP, and 32% to the 15-year high share price. If the deal proceeds, SGH would on-sell BSL's North American operations to Steel Dynamics after closing, while SGH would keep the remaining Australia and Rest of World operations. The filing is explicit that discussions with BSL remain incomplete and ongoing, that no final decision to make a binding proposal has been made, and that there is no certainty the NBIO will result in a transaction. Completion is subject to customary conditions, including satisfactory due diligence, a binding scheme implementation deed, and shareholder and regulatory approvals. The companies state they do not believe there are material obstacles to regulatory approval.

Feb 17, 2026 8-K

Steel Dynamics 8-K Report, Financial Results (Jan 27, 2026)

Steel Dynamics, Inc. furnished a press release reporting fourth quarter and annual 2025 results. For the fourth quarter, net sales were $4.4 billion, net income attributable to Steel Dynamics was $266 million, or $1.82 per diluted share, compared with $404 million, or $2.74 per diluted share, in the sequential third quarter. Fourth quarter steel operating income was $322 million, 35 percent lower than the third quarter, reflecting lower average realized selling values and reduced volumes from seasonal demand and planned maintenance outages, some of which ran longer than anticipated. The average external steel selling price fell $12 sequentially to $1,107 per ton. For full-year 2025, net sales rose 3.6 percent to $18.2 billion, while operating income declined 24 percent to $1.5 billion, due mainly to lower realized pricing in steel and steel fabrication. Net income was $1.2 billion, or $7.99 per diluted share, versus $1.5 billion, or $9.84 per diluted share, in 2024. Adjusted EBITDA was $2.2 billion, cash flow from operations was $1.4 billion, and the company repurchased $901 million of common stock, over four percent of shares outstanding. Liquidity was over $2.2 billion as of December 31, 2025. Record steel shipments of 13.7 million tons were reported. Management highlighted progress in the company's aluminum platform, including commissioning of the Columbus, Mississippi aluminum flat rolled mill and the San Luis Potosi satellite recycled aluminum slab center, with the aluminum operation reporting positive EBITDA in December. Management said flat rolled steel pricing has improved and expects a favorable market environment supported by trade actions, onshoring, and infrastructure funding. The filing also reports $800 million of unsecured notes issued in November 2025 and a $450 million investment in growth working capital tied to the aluminum platform.

Jan 27, 2026 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Jan 6, 2026)

Steel Dynamics, Inc. (STLD) filed a Form 8-K on January 6, 2026 (signed January 5, 2026) under Item 7.01 (Regulation FD Disclosure) to furnish a press release jointly issued with SGH Ltd. The release confirms that SGH and Steel Dynamics have submitted a Non-Binding Indicative Offer (NBIO) for SGH to acquire 100% of BlueScope Steel Ltd (ASX:BSL) by way of a scheme of arrangement. Under the proposal, SGH would acquire BSL and then on-sell BSL's North American operations, including the North Star Flat Rolled Steel Mill and Building and Coated Products North America businesses, to Steel Dynamics. SGH would retain BSL's Australia and Rest of World operations. The proposed price is AUD$30.00 (USD$20.041) per share in cash, representing a total equity value for BSL of AUD$13.2 billion (USD$8.8 billion). The release cites a 27% premium to BSL's closing share price as at the NBIO submission, a 33% premium to its 3-month and 52-week volume-weighted average share prices, and an 18.6x EV/FY25A EBIT multiple. The price will be reduced by any cash dividends BSL pays after December 12, 2025. The companies state that no equity will be raised, with funding from existing cash reserves and available debt financing, and that they do not anticipate material regulatory obstacles. The release is explicit that discussions with BSL remain incomplete and ongoing, that neither party has made a final decision to make a binding proposal, and that there is no certainty the proposal will result in a transaction. Conditions include satisfactory due diligence, a binding scheme implementation deed, and shareholder and regulatory approvals. The companies have entered a 12-month exclusivity agreement with each other.

Jan 6, 2026 8-K

Steel Dynamics 8-K Report, Material Agreement (Dec 23, 2025)

Steel Dynamics, Inc. filed this Current Report on Form 8-K dated December 23, 2025, under Item 1.02 (Termination of a Material Definitive Agreement). The filing states that, effective December 21, 2025, the Company redeemed and subsequently repaid all of its outstanding 5.000% Senior Notes due 2026 at 100.000% of the $400,000,000 principal amount, plus accrued and unpaid interest to, but not including, December 21, 2025. The Notes were issued under an Indenture dated as of December 6, 2016, between the Company, as Issuer, and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as Trustee. The filing states that, under Section 8.01 of the Indenture, the Company has fully paid all remaining sums due and delivered all Notes to the Trustee for cancellation, so the Company's obligations under the Indenture have been terminated. For investors, the filing is a administrative disclosure of debt retirement. It reports that the Company has eliminated this $400,000,000 senior note obligation and the related indenture, and it does not describe any new financing, earnings results or operating developments.

Dec 23, 2025 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Dec 17, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) furnished a Form 8-K on December 17, 2025, under Item 7.01 (Regulation FD Disclosure), attaching Exhibit 99.1, a press release titled "Steel Dynamics Provides Fourth Quarter 2025 Earnings Guidance." The company guided fourth quarter 2025 diluted earnings per share to a range of $1.65 to $1.69, compared with $2.74 per diluted share in the sequential third quarter of 2025 and $1.36 in the prior-year fourth quarter. The company expects steel operations profitability to be meaningfully lower than the third quarter, citing lower average realized selling values, seasonal demand, and planned flat rolled mill maintenance outages that were longer than anticipated and reduced fourth quarter flat rolled production by an estimated 140,000 to 150,000 tons. Management noted that flat rolled steel prices have recently improved as import volume declined and demand has been seasonally steady. The metals recycling and steel fabrication segments are also expected to earn less than in the third quarter, reflecting seasonally lower shipments. Fabrication has an order backlog extending well into the second quarter of 2026 with healthy pricing, and management expects improved volumes in 2026. In aluminum, the company reported continued commissioning and startup of its Columbus, Mississippi aluminum flat rolled products mill and San Luis Potosi satellite recycled slab center, with product qualifications from several can sheet consumers and ongoing downstream line commissioning. The company also stated it has repurchased an estimated $200 million, or one percent, of its common stock so far in the fourth quarter of 2025. Steel Dynamics plans to release fourth quarter 2025 earnings before market open on January 26, 2026, with a conference call the same day at 11:00 a.m. Eastern Standard Time.

Dec 17, 2025 8-K

Steel Dynamics 8-K Report, Corporate Update (Dec 2, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) reported in a Form 8-K dated December 2, 2025 that on December 1, 2025 it completed the acquisition of the remaining 55% equity interest in New Process Steel, L.P. ("New Process Steel"), a metals solutions and distribution supply-chain management company headquartered in Houston, Texas. The announcement was made through a press release attached as Exhibit 99.1, which is incorporated by reference. According to the press release, New Process Steel is a North American metal products manufacturer and supply-chain solutions provider with two manufacturing locations in Mexico and four in the U.S., two of which are at Steel Dynamics' Butler, Indiana and Columbus, Mississippi divisions. The company employs approximately 1,275 people and is currently Steel Dynamics' single largest flat roll steel customer. Chairman and CEO Mark D. Millett said the acquisition expands the company's exposure to value-added manufacturing opportunities while continuing to serve its other flat rolled steel customers. The filing itself does not disclose the purchase price, financing terms, or the financial contribution of New Process Steel. The press release describes Steel Dynamics as pursuing a circular, recycled-scrap-based manufacturing model and investing in aluminum operations to diversify its product offerings.

Dec 2, 2025 8-K

Steel Dynamics 8-K Report, Material Agreement (Nov 21, 2025)

Steel Dynamics, Inc. (STLD) completed on November 21, 2025 the sale of $650 million of 4.000% Notes due 2028 and an additional $150 million of 5.250% Notes due 2035, which form a single series with the $600 million 5.250% Notes due 2035 issued in March 2025. The Additional 2035 Notes were issued at 101.443% of principal, an implied yield of 5.053%. The Company received net proceeds of approximately $792 million after expenses and the underwriting discount. The Notes are senior unsecured obligations under the Company's indenture with U.S. Bank Trust Company, National Association, as trustee. The company plans to use the net proceeds to redeem its $400 million 5.000% Notes due 2026, with the redemption date set for December 21, 2025, at 100% of principal plus accrued interest, and for other general corporate purposes. The filing states the Company remains committed to maintaining its investment grade credit ratings. The Notes are registered under an effective Form S-3 shelf registration. The filing includes standard terms for optional redemption before the par call dates (November 15, 2028 for the 2028 Notes and February 15, 2035 for the 2035 Notes), a 101% change of control put, and covenants limiting liens, certain sale-leaseback transactions, and sales or mergers of substantially all assets. The 2028 Notes pay interest on June 15 and December 15, and the 2035 Notes pay on May 15 and November 15.

Nov 21, 2025 8-K

Steel Dynamics 8-K Report, Corporate Update (Nov 12, 2025)

Steel Dynamics, Inc. filed this Form 8-K on November 12, 2025 to report an Item 8.01 (Other Events) disclosure. The company issued a press release on November 11, 2025, titled "Steel Dynamics Announces Leadership Appointment," which is attached as Exhibit 99.1 and incorporated by reference. The filing contains no financial results, financial statements, or quantitative performance data. The announcement states that Matt Bell has been appointed head of the company's metals recycling platform, effective November 11, 2025, with the title Vice President of Metals Recycling and President of OmniSource. Bell has been with the company since 2016 and has served as Vice President of Commercial for OmniSource since 2023. The press release also states that Miguel Alvarez is transitioning from metals recycling to lead the aluminum flat rolled products platform, which the company describes as part of its ongoing succession planning. For investors, this is a management-level change rather than a material financial event. The filing's broader context, as described in the boilerplate, is that Steel Dynamics is expanding into aluminum flat rolled products for the beverage can, automotive, and industrial markets, and the leadership change supports that segment's operational focus.

Nov 12, 2025 8-K

Steel Dynamics 8-K Report, Corporate Update (Nov 10, 2025)

Steel Dynamics, Inc. filed this Form 8-K on November 10, 2025 to report a single event: on November 7, 2025, its board of directors declared a fourth quarter 2025 cash dividend of $0.50 per common share. The dividend is payable to shareholders of record at the close of business on December 31, 2025, and is payable on or about January 9, 2026. The announcement was made in a press release attached as Exhibit 99.1 and incorporated by reference. The filing contains no financial statements, results, or guidance. Its investor relevance is limited to the dividend declaration and its timing. The press release describes Steel Dynamics as an industrial metals solutions company with facilities in the United States and Mexico, using a circular manufacturing model with recycled scrap as the primary input. It also states that the company is investing in aluminum operations to diversify its product offerings, including flat rolled products for the beverage can, automotive, and industrial sectors. The filing is signed by Theresa E. Wagler, Executive Vice President and Chief Financial Officer.

Nov 10, 2025 10-Q

Steel Dynamics Quarterly Report for Q3 Ended Sep 30, 2025

Steel Dynamics, Inc. (STLD) reported record third-quarter 2025 steel shipments of 3.6 million tons. Net sales for the quarter rose to $4.83 billion from $4.34 billion, and operating income increased to $507.8 million from $395.4 million, as steel and metals recycling metal spreads expanded. Net income attributable to Steel Dynamics, Inc. was $403.7 million, or $2.74 per diluted share, compared with $317.8 million, or $2.05 per diluted share, a year earlier. For the first nine months of 2025, operating income fell to $1.17 billion from $1.71 billion, and net income attributable to Steel Dynamics, Inc. declined to $919.6 million from $1,329.8 million. The steel operations segment's nine-month operating income decreased 22% on a 7% decrease in metal spread, while the steel fabrication segment's operating income fell 40% as average selling prices and volumes declined. The aluminum operations segment posted an operating loss of $125.9 million for the nine months as it continued commissioning its aluminum flat rolled products mill in Columbus, Mississippi. Balance sheet leverage increased. Total debt reached $3.8 billion after the company issued $1.0 billion of senior unsecured notes in March 2025 and repaid $400.0 million of notes at maturity. The long-term debt to capitalization ratio rose to 29.7% from 26.5%. Liquidity was $2.2 billion at September 30, 2025, including $1.2 billion of Revolver availability, and the company remained in compliance with its financial covenants. The company repurchased $660.6 million of stock in the first nine months and had $1.0 billion remaining under its February 2025 program.

Oct 24, 2025 8-K

Steel Dynamics 8-K Report, Financial Results (Oct 21, 2025)

Steel Dynamics, Inc. furnished a press release dated October 20, 2025, reporting third quarter 2025 results. Net sales were $4.8 billion, operating income was $508 million, and net income attributable to Steel Dynamics was $404 million, or $2.74 per diluted share. Management said consolidated operating income improved 33 percent and adjusted EBITDA increased 24 percent sequentially. Adjusted EBITDA was $664 million and cash flow from operations was $723 million. The company set a record for steel shipments at 3.6 million tons, and it repurchased $210 million of common stock, or 1.1 percent of outstanding shares. For the nine months ended September 30, 2025, net income was $920 million, or $6.17 per diluted share, on net sales of $13.8 billion. Operating income declined 32 percent to $1.2 billion from the prior-year period, due to lower realized steel and steel fabrication pricing. Steel operating income was $497.9 million in the quarter, and the steel segment's average external selling price was $1,119 per ton. Management flagged customer inventory overhang of imported flat rolled products and order hesitancy tied to trade actions. It also noted that the aluminum business is commissioning its Columbus, Mississippi flat rolled mill, which produced qualified products for several customers, and that aluminum operations posted an operating loss of $57 million in the quarter. Management expects stronger demand as trade practices diminish and noted that the U.S. International Trade Commission's final determinations on coated flat rolled steel are a significant positive development. Normal maintenance outages in the fourth quarter could reduce flat rolled production by as much as 85,000 tons.

Oct 21, 2025 8-K

Steel Dynamics 8-K/A Report, Executive Changes (Sep 30, 2025)

Steel Dynamics, Inc. filed this Amendment No. 1 to Form 8-K to amend its Current Report on Form 8-K filed May 12, 2025, which concerned, among other things, the planned retirement of Glenn Pushis, Senior Vice President Special Projects. The filing states that the original disclosure otherwise remains unchanged. Under Item 5.02 (Departure of Directors or Certain Officers), the filing states that on September 30, 2025, Mr. Pushis and the Company agreed that he will retire from the Company effective January 9, 2026. The report is signed by Theresa E. Wagler, Executive Vice President and Chief Financial Officer. The filing contains no financial results, guidance, or operational metrics. Its significance for investors is limited to the scheduled executive departure and the specified effective date of January 9, 2026.

Sep 30, 2025 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Sep 15, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) furnished a Form 8-K under Item 7.01 (Regulation FD Disclosure) attaching a press release dated September 15, 2025, titled "Steel Dynamics Provides Third Quarter 2025 Earnings Guidance." The company guided to third quarter 2025 earnings of $2.60 to $2.64 per diluted share, compared with sequential second quarter 2025 earnings of $2.01 per diluted share and prior year third quarter earnings of $2.05 per diluted share. The information is furnished and not deemed filed under Section 18 of the Exchange Act. Management expects steel operations profitability to be stronger than in the second quarter, driven by strong shipments and metal spread expansion, as scrap raw material costs are expected to decline more than average realized steel pricing. Metals recycling earnings are expected to be significantly stronger than second quarter results, and steel fabrication earnings are expected to be higher on increased volume and steady metal spread, with a strong order backlog and healthy pricing. The non-residential construction, automotive, energy, and industrial sectors are cited as leading demand. On the aluminum business, the company reported successful commissioning and startup of its Columbus, Mississippi aluminum flat rolled products mill and its San Luis Potosi satellite recycled slab center, with cast houses and the hot strip mill performing above expectations and commissioning ongoing in other areas, including the cold mill. As of September 11, 2025, the company had repurchased $185 million, or one percent, of its common stock during the third quarter. The company plans to release third quarter results after market close on October 20, 2025, with a conference call the following day at 11:00 a.m. Eastern Daylight Time.

Sep 15, 2025 8-K

Steel Dynamics 8-K Report, Corporate Update (Aug 19, 2025)

On August 19, 2025, Steel Dynamics, Inc. (NASDAQ/GS: STLD) reported under Item 8.01 (Other Events) that it has entered into a definitive agreement to acquire the remaining 55% equity interest in New Process Steel, L.P. ("New Process"). The announcement is furnished through a press release attached as Exhibit 99.1. New Process is a metals solutions and distribution supply-chain management company headquartered in Houston, Texas, with a focus on growing value-added manufacturing applications. According to the press release, New Process has two manufacturing locations in Mexico and four in the U.S., two of which are located at Steel Dynamics' Butler and Columbus Flat Roll Steel divisions, and it employs approximately 1,275 people. The press release states that New Process is currently Steel Dynamics' single largest flat roll steel customer, and management says the acquisition expands Steel Dynamics' exposure to value-added manufacturing while continuing to serve its other flat rolled steel customers. The transaction is subject to customary closing conditions and receipt of regulatory approvals. The filing does not disclose a purchase price or expected closing date.

Aug 19, 2025 8-K

Steel Dynamics 8-K Report, Corporate Update (Aug 15, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) filed a Current Report on Form 8-K dated August 15, 2025, under Item 8.01 (Other Events). The filing attaches a press release dated August 14, 2025, announcing that the board of directors declared a third quarter 2025 cash dividend of $0.50 per common share. The dividend is payable to shareholders of record at the close of business on September 30, 2025, and is payable on or about October 10, 2025. The press release describes Steel Dynamics as a leading industrial metals solutions company with facilities throughout the United States and in Mexico. It states that the company operates a circular manufacturing model, producing lower-carbon-emission products with recycled scrap as the primary input, and that it is one of the largest domestic steel producers and metal recyclers in North America, combined with a meaningful downstream steel fabrication platform. The press release also notes that the company is investing in aluminum operations to diversify its product offerings, with plans to supply aluminum flat rolled products with high recycled content to the beverage can, automotive, and industrial sectors. The filing itself contains no financial results, earnings figures, or guidance; its substance is limited to the declared dividend and the company's business description.

Aug 15, 2025 10-Q

Steel Dynamics Quarterly Report for Q2 Ended Jun 30, 2025

Steel Dynamics, Inc. (STLD) reported second-quarter 2025 net sales of $4.57 billion, down from $4.63 billion in the second quarter of 2024, and net income attributable to Steel Dynamics, Inc. of $298.7 million, compared with $428.0 million a year earlier. Diluted earnings per share were $2.01, versus $2.72. Consolidated operating income fell to $382.9 million from $559.1 million, which the filing attributes to contracted steel and steel fabrication metal spreads, along with a $32.3 million noncash write-off of consumable assets in Steel Operations. For the first half of 2025, operating income was $658.0 million and net income attributable to the company was $515.9 million, both down roughly half from the prior year period. Segment results were mixed. Metals recycling operations and aluminum-related volume grew, with record quarterly ferrous scrap shipments, while steel fabrication operating income fell 48% in the quarter and aluminum operations posted an operating loss of $40.6 million as start-up costs rose. The company reported first aluminum coils sold late in the second quarter, and it expects volume to increase over the coming months. Steel shipments rose 5% to 3.3 million tons in the quarter. Balance sheet leverage increased. Total debt reached $3.8 billion after the March 2025 issuance of $1.0 billion of senior unsecured notes, which included repayment of $400.0 million of 2.400% notes at maturity. Cash and equivalents were $458.0 million, and total liquidity was $1.93 billion, including $1.19 billion of Revolver availability. Operating cash flow was $454.2 million for the first half, compared with $737.8 million a year earlier, and the company repurchased $450.2 million of stock in the first half. The long-term debt to capitalization ratio rose to 29.9% from 26.5%.

Aug 11, 2025 8-K

Steel Dynamics 8-K Report, Financial Results (Jul 22, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) furnished a press release reporting its second quarter 2025 results, filed under Item 2.02 of this Form 8-K dated July 22, 2025. For the quarter, net sales were $4.57 billion, operating income was $382.9 million, and net income attributable to Steel Dynamics was $298.7 million, or $2.01 per diluted share, compared with $2.72 per diluted share in the prior-year second quarter. Adjusted EBITDA was $533.4 million and cash flow from operations was $301.6 million. Management said steel pricing stabilized at higher levels during the quarter, and that steel operating income rose sequentially, with a $32 million noncash write-off of consumable assets reducing steel earnings. Steel fabrication operating income declined sequentially to $93.1 million, though management said profitability reached an inflection point. The company also reported that it shipped its first aluminum flat rolled coils on June 16, 2025. For the first half of 2025, net sales were $8.93 billion and operating income was $658.0 million, down from $1.31 billion in the same period of 2024. Net income attributable to Steel Dynamics for the six months was $515.9 million, or $3.44 per diluted share. Management cited lower realized steel pricing and reduced steel fabrication profitability as drivers of the decline. Liquidity was $1.9 billion as of June 30, 2025, after the company repaid $400 million of senior notes due June 2025 and repurchased $200 million of common stock in the quarter. Management cited trade-policy uncertainty as causing customer hesitancy and an inventory overhang of coated flat rolled steel, which lowered steel shipments in the quarter. Management expects the U.S. International Trade Commission's final determinations on coated flat rolled steel before the end of the third quarter 2025, and it anticipates exiting 2025 at an aluminum utilization rate of 40 to 50 percent, rising to a 75 percent exit rate in 2026.

Jul 22, 2025 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Jun 18, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) provided second quarter 2025 earnings guidance of $2.00 to $2.04 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 million 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 million 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.

Jun 18, 2025 10-Q

Steel Dynamics Quarterly Report for Q1 Ended Mar 31, 2025

Steel Dynamics, Inc. (STLD) reported a sharp decline in profitability for the first quarter of 2025 ended March 31, 2025. Total net sales were $4.37 billion, down from $4.69 billion in the first quarter of 2024, while operating income fell $475.8 million, or 63%, to $275.1 million. Net income attributable to Steel Dynamics, Inc. decreased to $217.2 million, or diluted earnings per share of $1.44, versus $3.67 a year earlier. The company attributes the decline to steel and fabrication metal spreads contracting, with steel operations average selling prices down 17%, or $204 per ton, even as steel shipments reached a record 3.5 million tons. Balance sheet and liquidity changed meaningfully during the quarter. The company issued $600.0 million of 5.250% notes due 2035 and $400.0 million of 5.750% notes due 2055 in March 2025, raising total debt to $4.2 billion, an increase of $965.1 million from December 31, 2024. Cash and equivalents rose to $1.19 billion, and total liquidity was $2.64 billion including $1.19 billion of Revolver availability. Operating cash flow fell to $152.6 million from $355.2 million, and capital expenditures were $305.5 million, primarily for the aluminum and steel operations segments. Shareholder returns continued during the quarter. The quarterly dividend was raised 9% to $0.50 per share, and the company repurchased $250.1 million of stock under its programs, with $1.4 billion remaining available under the February 2025 authorization. The aluminum flat rolled products mill in Columbus, Mississippi, is nearing completion, with commercial coil shipments expected in mid-2025, and the aluminum segment posted an operating loss of $28.7 million.

May 12, 2025 8-K

Steel Dynamics 8-K Report, Executive Changes (May 12, 2025)

Steel Dynamics, Inc. (STLD) filed a Form 8-K on May 12, 2025 to disclose senior leadership changes in its operations. Glenn Pushis, Senior Vice President Special Projects, notified the company on May 9, 2025 that he will retire effective October 1, 2025. He will continue to provide consulting services after that date through the commissioning of the company's new aluminum flat rolled facilities during the year. Per the attached press release (Exhibit 99.1), he will become Chief Executive Officer of McBride Capital Partners "Project Aero," a U.S.-based company planning a titanium manufacturing facility in North Carolina. Effective October 1, 2025, Miguel Alvarez, currently Senior Vice President Metals Recycling, will become Senior Vice President Aluminum Group. He will take responsibility for the company's aluminum operations, including the new strategic aluminum investments being commissioned under Mr. Pushis's leadership, and an ancillary recycled aluminum deox-rod facility. The company will name a new senior leader for its metals recycling platform in the coming weeks, according to the press release. The filing describes these as operational leadership transitions. It does not contain financial results or quantitative information about the company's performance.

May 12, 2025 8-K

Steel Dynamics 8-K Report, Corporate Update (Apr 30, 2025)

Steel Dynamics, Inc. filed this Current Report on Form 8-K on April 30, 2025 to disclose, under Item 8.01 (Other Events), that it issued a press release on April 28, 2025 announcing its second quarter 2025 cash dividend. The press release is furnished as Exhibit 99.1 and incorporated by reference. The filing is a routine dividend notice and contains no quarterly financial results, guidance, or other financial statements. According to the attached press release, the company's board of directors declared a second quarter cash dividend of $0.50 per common share. The dividend is payable to shareholders of record at the close of business on June 30, 2025, and is payable on or about July 11, 2025. The press release also describes Steel Dynamics as a leading industrial metals solutions company with facilities across the United States and in Mexico, operating a circular manufacturing model that uses recycled scrap as its primary input. It notes the company is investing in aluminum operations to diversify its product offerings. For investors, the key takeaways are the dividend amount, the record date, and the payment date. The filing does not provide operating results, balance sheet data, or changes to the company's capital allocation beyond this declared dividend.

Apr 30, 2025 8-K

Steel Dynamics 8-K Report, Shareholder Vote Results (Apr 29, 2025)

Steel Dynamics, Inc. held its Annual Meeting of Shareholders on April 25, 2025, with 133,287,610 of the 149,896,788 shares outstanding as of the March 6, 2025 record date present in person or by proxy, a quorum of 88.92% of shares outstanding and entitled to vote. Shareholders elected all nine director nominees to one-year terms, ratified Ernst & Young LLP as auditors for the year ending December 31, 2025, and approved the 2024 named executive officer compensation on an advisory basis. Shareholders did not approve a shareholder proposal for a special shareholder meeting improvement, which received 14,073,212 votes for, 109,932,100 against, and 205,129 abstentions, with 9,077,169 broker non-votes. The filing is limited to the voting results from the meeting and carries no financial results, guidance or operational disclosures. The report was signed by Theresa E. Wagler, Executive Vice President and Chief Financial Officer, and dated April 29, 2025. For investors, the key takeaways are the board's continuity, the auditor ratification, and the shareholder rejection of the special meeting proposal.

Apr 29, 2025 8-K

Steel Dynamics 8-K Report, Financial Results (Apr 23, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) reported first quarter 2025 results in a press release furnished as Exhibit 99.1 to this 8-K. Net sales were $4.37 billion, operating income was $275.1 million, and net income attributable to Steel Dynamics was $217.2 million, or $1.44 per diluted share. This compares with net income of $207.3 million, or $1.36 per diluted share, in the fourth quarter of 2024, and $584.0 million, or $3.67 per diluted share, in the first quarter of 2024. Adjusted EBITDA was $448.3 million, and cash flow from operations was $152.6 million, after an annual companywide retirement profit-sharing distribution of $165 million. Management attributed the sequential improvement to record steel shipments of 3.5 million tons, partly offset by metal spread compression, as lagging flat rolled contract pricing did not yet reflect recent price increases. The average external steel selling price fell to $998 per ton. Steel operations generated $230.0 million of operating income, metals recycling $25.7 million, and steel fabrication $116.7 million, while the aluminum segment posted an operating loss of $28.7 million. Management said steel prices firmed during the quarter, order backlogs rose, and the Columbus, Mississippi aluminum flat rolled mill is on track to ship commercial coils in mid-2025. The company issued $1.0 billion of unsecured notes in March 2025, consisting of $600 million of 5.250% notes due 2035 and $400 million of 5.750% notes due 2055. Cash and equivalents rose to $1.19 billion, and long-term debt increased to $3.78 billion from $2.80 billion at year-end 2024. Liquidity was $2.6 billion as of March 31, 2025. During the quarter the company repurchased $250 million of common stock, representing 1.3 percent of outstanding shares, and raised its first-quarter cash dividend by 9 percent.

Apr 23, 2025 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Mar 18, 2025)

Steel Dynamics, Inc. furnished a press release dated March 17, 2025 under Item 7.01 (Regulation FD), providing its first quarter 2025 earnings guidance of $1.36 to $1.40 per diluted share. The company compared this with sequential fourth quarter 2024 earnings of $1.36 per diluted share and prior year first quarter earnings of $3.67 per diluted share. Management expects steel operations to be stronger than in the fourth quarter on higher shipments that more than offset some metal margin compression, while metals recycling earnings are expected to be higher and steel fabrication earnings lower than the fourth quarter. The release describes continued demand led by the energy, non-residential construction, automotive, and industrial sectors. It also reports that the Sinton Texas Flat Roll Division operated at production levels above 90 percent in the first quarter of 2025, and that steel fabrication order activity increased with backlog extending well into the third quarter of 2025. In aluminum, the Columbus, Mississippi flat rolled mill and San Luis Potosi satellite recycled slab center are being commissioned, with the company continuing to expect to begin shipping material in mid-2025. Capital returns were also addressed. In February 2025 the board raised the first quarter cash dividend by nine percent to $0.50 per common share and authorized an additional $1.5 billion for share repurchases after the prior $1.5 billion program was exhausted. As of March 12, 2025, the company had repurchased $191 million, or one percent, of its common stock during the first quarter. The company plans to release first quarter 2025 earnings after market close on April 22, 2025.

Mar 18, 2025 8-K

Steel Dynamics 8-K Report, Material Agreement (Mar 12, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) completed the sale of $600 million aggregate principal amount of 5.250% Notes due 2035 and $400 million aggregate principal amount of 5.750% Notes due 2055 on March 12, 2025, under an effective Form S-3 shelf registration. The Company reports net proceeds of approximately $972 million after expenses and the underwriting discount. The notes are senior unsecured obligations, rank equally with existing and future senior indebtedness, and are structurally subordinated to all liabilities of the Company's subsidiaries. Interest is payable semi-annually on May 15 and November 15, beginning November 15, 2025. The Company plans to use the proceeds for general corporate purposes, which may include repaying its $400 million 2.400% Notes due 2025 at or before maturity, as well as working capital, capital expenditures, subsidiary funding, acquisitions, debt redemption, and share repurchases. The Indenture includes covenants limiting liens securing indebtedness, certain sale-leaseback transactions, and asset sales or mergers. Holders have a put right at 101% of principal upon a Change of Control Triggering Event. The Company may redeem the notes before the par call dates (February 15, 2035 and November 15, 2054) at a make-whole price based on Treasury rates plus 20 basis points for the 2035 Notes and 25 basis points for the 2055 Notes. In the accompanying press release, CFO Theresa E. Wagler stated that the Company remains committed to maintaining its investment grade credit ratings, which she said provide lower-cost, longer-term capital and enable optionality for value creation. Several underwriters' affiliates participate in the Company's $1.2 billion unsecured revolving credit facility maturing July 19, 2028, and some may receive a portion of the proceeds if they hold the 2025 Notes.

Mar 12, 2025 10-K

Steel Dynamics Annual Report, Year Ended Dec 31, 2024

Steel Dynamics, Inc. reported consolidated net sales of $17.54 billion for 2024, down from $18.80 billion in 2023, and operating income of $1.94 billion versus $3.15 billion a year earlier. Net income attributable to Steel Dynamics, Inc. was $1.54 billion, or $9.84 diluted earnings per share, compared with $14.64 in 2023. The filing attributes the earnings decline mainly to metal spread compression in the steel and steel fabrication segments, with steel fabrication operating income falling to $666.98 million from $1.59 billion. Steel operations remained the largest segment at $12.53 billion of net sales and $1.58 billion of operating income. Cash flow from operations was $1.84 billion in 2024, compared with $3.52 billion in 2023, while capital expenditures were $1.87 billion, mainly for the aluminum and steel operations. Cash and equivalents plus short-term investments and unsecured revolver availability totaled $2.17 billion at year-end. Total debt was $3.2 billion, and the company issued $600.0 million of 5.375% senior notes due 2034 in July 2024. The company repurchased $1.2 billion of common stock during 2024 and dividends declared rose to $1.84 per share from $1.70. In February 2025 the board authorized an additional $1.5 billion share repurchase program. The filing highlights the ongoing construction of a 650,000-metric-ton recycled aluminum flat rolled products mill in Columbus, Mississippi, a project the company describes as a $2.7 billion investment, with shipments planned to begin in mid-2025. Management states that its liquidity is sufficient to fund planned 2025 capital requirements. Ernst & Young LLP issued unqualified opinions on the financial statements and on internal control over financial reporting, which management concluded was effective as of December 31, 2024.

Feb 28, 2025 8-K

Steel Dynamics 8-K Report, Corporate Update (Feb 25, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) furnished a February 25, 2025 Form 8-K under Item 8.01 (Other Events) to attach its press release dated February 24, 2025. The release announces a first-quarter 2025 cash dividend of $0.50 per common share, a 9% increase over the company's 2024 quarterly rate, payable on or about April 11, 2025 to shareholders of record at the close of business on March 31, 2025. The board also authorized an additional $1.5 billion share repurchase program, effective immediately and additive to the prior $1.5 billion program authorized on November 3, 2023, which had $194 million remaining as of December 31, 2024. The release states the company has repurchased $6.7 billion of its common stock since 2017, representing 41 percent of its outstanding shares, and has paid $1.7 billion in cash dividends through December 31, 2024. Management, led by Chairman and CEO Mark D. Millett, said the actions reflect confidence in cash generation and that the company intends to remain committed to its investment grade credit ratings. The release also cites $7.1 billion invested in capital investments and acquisitions over the last five years and an after-tax return on invested capital of 24 percent. Repurchases will be made opportunistically based on market price, other investment opportunities, expected free cash flow and general economic conditions, and the program may be modified, suspended, extended or terminated at any time.

Feb 25, 2025 8-K

Steel Dynamics 8-K Report, Financial Results (Jan 23, 2025)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) furnished a press release reporting fourth quarter and annual 2024 results. For full-year 2024, the company reported net sales of $17.5 billion, operating income of $1.9 billion, net income of $1.5 billion ($9.84 per diluted share), adjusted EBITDA of $2.5 billion, and cash flow from operations of $1.8 billion. Net sales decreased seven percent and operating income declined 38 percent versus 2023, driven by lower shipments and metal spread contraction in the steel and steel fabrication operations. Fourth quarter 2024 net income was $207 million, or $1.36 per diluted share, compared with $318 million ($2.05 per diluted share) in the third quarter of 2024 and $424 million ($2.61 per diluted share) in the fourth quarter of 2023. Steel operating income fell 46 percent sequentially in the fourth quarter to $165 million, reflecting seasonally lower shipments, metal spread compression, and an unplanned outage at the Butler Flat Roll Division. Capital allocation remained a major focus. The company invested $1.9 billion in organic growth, paid $283 million in cash dividends, and repurchased $1.2 billion of common stock, representing six percent of outstanding shares, while ending 2024 with liquidity of $2.2 billion. Management said the Sinton Texas Flat Roll Steel Division incurred a fourth quarter operating loss of $58 million, with extra costs expected to dissipate in the first quarter and positive operating contributions expected beginning in the first half of 2025. Management also stated that it expects unfairly traded steel imports to decline in 2025 following a recent CORE trade case, and reported strong order activity for flat rolled steel so far in 2025 with prices that have stabilized. Management highlighted the start of aluminum ingot production at Cast Complex #1 in Columbus, Mississippi, on January 12, 2025, with commercially viable products targeted before mid-year 2025. The company also noted that its four new value-added flat rolled coating lines are expected to reach full run-rate earnings potential in 2025. The company will host a conference call on January 23, 2025, at 11:00 a.m. Eastern Time to discuss the results.

Jan 23, 2025 8-K

Steel Dynamics 8-K Report, Regulation FD Disclosure (Dec 17, 2024)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) furnished a Regulation FD press release dated December 16, 2024, providing fourth quarter 2024 earnings guidance of $1.26 to $1.30 per diluted share. The company cites comparison points of $2.05 per diluted share for sequential third quarter 2024 and $2.61 per diluted share for prior year fourth quarter earnings. The information is furnished under Item 7.01 and is not deemed filed for purposes of Section 18 of the Exchange Act. By segment, the company expects fourth quarter steel operations profitability to be meaningfully lower than the third quarter, citing lower average realized pricing, seasonally lower shipments, and an unplanned outage at the Butler Flat Roll Division that is estimated to reduce volume by 50,000 tons. Metals recycling earnings are expected to be significantly higher than the third quarter on steady ferrous volume and flat realized pricing, while steel fabrication earnings are expected to be lower on seasonally lower shipments and less than a five percent decline in average realized pricing. Management states that flat rolled steel prices have stabilized, the fabrication order backlog is steady and extends deep into the first half of 2025, and customers are positive about the 2025 outlook. The company also reported repurchasing $250 million, or just over one percent, of its common stock in the fourth quarter through December 10, 2024. It plans to release fourth quarter 2024 results after market close on January 22, 2025, followed by a conference call at 11:00 a.m. Eastern Standard Time the next day.

Dec 17, 2024 8-K

Steel Dynamics 8-K Report, Corporate Update (Nov 8, 2024)

Steel Dynamics, Inc. (NASDAQ/GS: STLD) filed a Form 8-K on November 8, 2024 to report under Item 8.01 (Other Events) that it issued a press release announcing a fourth quarter 2024 cash dividend. The filing states that the board of directors declared a fourth quarter cash dividend of $0.46 per common share. The dividend is payable to shareholders of record at the close of business on December 31, 2024, and is payable on or about January 10, 2025. The filing is a routine notice rather than a financial results report. It contains no earnings, revenue, or operating figures. The only financial terms it states are the per-share dividend amount and the record and payment dates. The filing also includes a short company description: Steel Dynamics is one of the largest domestic steel producers and metals recyclers in North America, with facilities in the United States and Mexico, producing a range of flat-rolled, long, and specialty steel products, liquid pig iron, and processed ferrous and nonferrous scrap. For investors, the key takeaway is the declared quarterly dividend of $0.46 per share. Shareholders of record as of December 31, 2024 are entitled to receive it, with payment expected around January 10, 2025. The filing was signed by Theresa E. Wagler, Executive Vice President and Chief Financial Officer.

Nov 8, 2024 10-Q

Steel Dynamics Quarterly Report for Q3 Ended Sep 30, 2024

Steel Dynamics, Inc. (STLD) reported a sharp earnings decline in its third-quarter 2024 Form 10-Q. Net sales for the three months ended September 30, 2024 were $4.34 billion, down from $4.59 billion a year earlier, while operating income fell to $395.4 million from $733.6 million and net income attributable to Steel Dynamics was $317.8 million versus $577.2 million. The filing attributes the decline to metal spread contraction across all operating platforms, with steel operations' average selling prices down 11% and steel fabrication average selling prices down 28% in the quarter. For the nine months, operating income was $1.71 billion versus $2.63 billion and net income attributable was $1.33 billion versus $2.03 billion. Cash generation and liquidity remained substantial. Operating cash flow was $1.50 billion for the first nine months of 2024, compared with $2.66 billion a year earlier, and the company invested $1.41 billion in property, plant and equipment, primarily in its aluminum and steel operations. Total liquidity was $3.09 billion at September 30, 2024, including $1.02 billion of cash and equivalents and $1.19 billion of Revolver availability. Total debt rose to $3.7 billion after the July 2024 issuance of $600.0 million of 5.375% senior notes due 2034, and the long-term debt to capitalization ratio increased to 28.9% from 25.8%. The company continued to return capital to shareholders, paying $212.2 million in dividends and repurchasing $917.0 million of common stock in the first nine months of 2024, with $486.4 million remaining under the November 2023 $1.5 billion program. The company stated it was in compliance with its financial covenants, with an interest coverage ratio of 25.88:1.00 against a 2.50:1.00 minimum. The aluminum operations segment, including the flat rolled mill in Columbus, Mississippi, remains under construction with operations expected to begin in mid-2025.

Nov 8, 2024 8-K

Steel Dynamics 8-K Report, Executive Changes (Nov 7, 2024)

Steel Dynamics, Inc. filed this Current Report on Form 8-K dated November 7, 2024, to disclose a board change. On November 4, 2024, James Marcuccilli resigned from the Company's Board of Directors and from his positions on the Audit Committee and the Corporate Governance and Nominating Committee. The filing states that his decision was not due to any disagreement with the Company on any matter relating to its operations, policies or practices. The filing contains no financial results, financial statements, or operating figures. Its only furnished exhibit is the Cover Page Interactive Data File (Exhibit 104), which carries the XBRL tagging for the filing itself. The report is signed by Theresa E. Wagler, Executive Vice President and Chief Financial Officer. For investors, the disclosure is primarily a governance event: a director departure from both the Audit Committee and the Corporate Governance and Nominating Committee, with no stated disagreement. The filing does not name a successor or describe any replacement arrangements.

Nov 7, 2024 8-K

Steel Dynamics 8-K Report, Financial Results (Oct 17, 2024)

Steel Dynamics, Inc. (NASDAQ: STLD) reported third quarter 2024 results in a press release furnished as Exhibit 99.1 to this Form 8-K, dated October 16, 2024. The company reported net sales of $4.3 billion ($4,341,615 thousand), operating income of $395 million, and net income attributable to Steel Dynamics of $317.8 million, or $2.05 per diluted share, compared with $427,998 thousand ($2.72 per diluted share) in the second quarter of 2024 and $577,195 thousand ($3.47 per diluted share) in the third quarter of 2023. Adjusted EBITDA was $557 million and cash flow from operations was $760 million. Liquidity was $3.1 billion as of September 30, 2024. Steel operating income was $305 million, lower sequentially because realized selling prices fell more than scrap costs. The average external steel selling price decreased $79 per ton sequentially to $1,059 per ton, and the average ferrous scrap cost decreased $21 per ton to $367 per ton. Metals recycling operating income fell to $12 million, and steel fabrication operating income was $166 million. For the nine months ended September 30, 2024, net sales decreased six percent to $13.7 billion and operating income declined 35 percent to $1.7 billion compared with the prior-year period. Management stated that it is constructive on 2025 steel market dynamics, citing expected pricing recovery, lower interest rates, onshoring, and public infrastructure and clean-energy funding. The company plans to begin operating an aluminum flat rolled mill in mid-2025, and its four new coating lines are ramping up production. The filing furnishes the release under Item 2.02 and does not deem it filed for Section 18 purposes.

Oct 17, 2024