Steel Dynamics forecasts Q4 earnings of $1.65 to $1.69 per share

Steel Dynamics Inc. (NASDAQ: STLD) provided fourth quarter 2025 earnings guidance of $1.65 to $1.69 per diluted share, according to a company statement. The forecast represents a decrease from the company's third quarter 2025 earnings of $2.74 per diluted share but an increase from the prior year fourth quarter earnings of $1.36 per diluted share.

The company attributed the sequential decline to lower average realized selling values and reduced volumes in its steel operations. Planned maintenance outages at flat rolled steel mills lasted longer than anticipated, decreasing fourth quarter production by an estimated 140,000 to 150,000 tons. Average published indexed hot rolled steel prices fell more than $70 per ton from July to October 2025.

The metals recycling operations are expected to report lower earnings due to reduced seasonal shipments and declining ferrous and nonferrous pricing. Steel fabrication operations also face lower sequential results from seasonally reduced shipments, though the order backlog extends into the second quarter 2026.

Steel Dynamics continues commissioning its Columbus, Mississippi aluminum flat rolled products mill and San Luis Potosi satellite recycled slab center. The company has received product qualifications from several can sheet consumers and automotive applications.

The company repurchased approximately $200 million of its common stock during the fourth quarter 2025, representing about one percent of outstanding shares. Steel Dynamics plans to release fourth quarter 2025 earnings on January 26, 2026, before market open, followed by a conference call at 11:00 a.m. Eastern Standard Time.

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