Steel Dynamics, Inc. (NASDAQ: STLD) issued second quarter 2026 earnings guidance in the range of $3.51 to $3.55 per diluted share, according to a press release dated June 17, 2026. The guidance compares to $2.78 per diluted share in the first quarter of 2026 and $2.01 per diluted share in the second quarter of 2025.

(Consensus sees Q2 EPS of $4.16)

The company noted that second quarter earnings were reduced by $16 million due to asset write-downs related to a decision to relocate its planned second satellite aluminum recycled slab center from Arizona to Columbus, Mississippi. The company cited differences with Arizona state officials that risked construction and operations of the facility.

Steel operations profitability is expected to be higher than first quarter results, driven by demand and metal margin expansion, as average realized selling values increased more than scrap raw material costs. The company's steel fabrication order backlog is approximately 40% higher than a year ago and extends through the end of 2026 and into 2027.

Aluminum operations earnings are expected to improve compared to first quarter results, based on increased shipments and higher realized pricing. Two of three cold mills at the company's aluminum flat rolled products mill in Columbus, Mississippi are now operational, with the third expected to begin qualifying material in July 2026. The first of two Continuous Annealing and Solution Heat lines is operating and shipping material for customer qualification, with the second expected to begin material qualifications in the fourth quarter of 2026.

The company repurchased $170 million, or one half of one percent, of its common stock during the second quarter of 2026. Steel Dynamics plans to release its full second quarter 2026 earnings after market close on July 20, 2026.