Steel Dynamics Inc. (NASDAQ: STLD) provided first quarter 2026 earnings guidance of $2.73 to $2.77 per diluted share, according to a company statement released Monday. The guidance represents an increase from the company's fourth quarter 2025 earnings of $1.82 per diluted share and prior year first quarter earnings of $1.44 per diluted share.

The company expects higher profitability from its steel operations compared to the fourth quarter, driven by increased shipments and expanded metal margins as average selling values rose more than scrap raw material costs. The metals recycling operations are projected to deliver higher earnings based on expanded metal margins from higher ferrous and nonferrous selling values, though shipments are expected to be lower due to winter weather impacts on scrap flows in January and February.

Steel fabrication operations earnings are expected to remain steady with the fourth quarter as higher shipments offset margin compression from increased steel input costs. The company reported that its customer order backlog is over 35 percent higher than a year ago and extends into the third quarter of 2026.

Steel Dynamics has repurchased an estimated $66 million of its common stock during the first quarter 2026. The company temporarily reduced its share repurchase pace due to working capital needs related to its annual profit-sharing payment of approximately $126 million and increased working capital requirements for its aluminum operations.

The company plans to release its first quarter 2026 earnings after market close on April 20, 2026, with a conference call scheduled for the following day at 11:00 a.m. Eastern Daylight Time.