Steel Dynamics Sees Higher Q3 Earnings on Broad-Based Growth

Core Insights - Steel Dynamics, Inc. (STLD) has provided third-quarter 2025 earnings guidance, expecting earnings per share in the range of $2.60 to $2.64, an increase from $2.01 in the second quarter and $2.05 in the same quarter last year [1][2][7] Group 1: Earnings and Profitability - The steel operations are anticipated to show improved profitability due to strong shipments and an expansion in metal spread, as scrap raw material costs are expected to decline more than the average realized steel pricing [2][3] - Earnings from metals recycling operations are projected to be significantly stronger in the third quarter compared to the second quarter, with steel fabrication operations also expected to benefit from increased volume and steady metal spread [3] Group 2: Operational Developments - The aluminum division is on track to successfully commission the Columbus, MS, aluminum flat rolled products mill and the San Luis Potosi satellite recycled slab center, with cast houses and hot strip mills operating effectively [4] - As of September 11, 2025, the company has repurchased $185 million, or 1%, of its common stock during the third quarter [4] Group 3: Market Performance - STLD's shares have increased by 16.8% over the past year, contrasting with a 15.4% decline in the industry [5]