Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-21719 Steel Dynamics, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (IRS Employer Identi ...

Key Takeaways STLD raised its Q1 2026 dividend 6% to 53 cents per share, payable on April 10, 2026. Steel Dynamics held $769.9M in cash, up 31% YoY, with $272.7M in operating cash flow. STLD returned $291M in dividends and $901M in buybacks in fiscal 2025. Steel Dynamics, Inc. (STLD) recently announced that its board of directors has approved a 6% increase in the company’s first-quarter 2026 cash dividend, raising the payout to 53 cents per share compared with the quarterly rate in 2025. This dividend will ...

Core Viewpoint - BlueScope's board is open to further engagement with Steel Dynamics and SGH if they address specific issues raised by the company [1] Group 1 - BlueScope Chair Jane McAloon indicates a willingness for continued discussions with Steel Dynamics and SGH [1]

Join our daily newsletter At The Bell to receive exclusive market insightsASX today – We’re heading into Thursday morning on the upswing in Australia, mainly thanks to Wall Street continuing its advance. Next, things turn to the biggest reporting day of the February earnings season Down Under.Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.There’s a chance New York’s tech rally (Nasdaq +1.3%) falters som ...

It has been about a month since the last earnings report for Steel Dynamics (STLD) . Shares have added about 8.7% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Steel Dynamics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.Steel Dynamics Tops Q4 Earnings, Misses Re ...

Retail and Consumer - Best Buy, Ralph Lauren, and Nike are expected to benefit from the new 15% tariff, which is 4% lower than previous rates, according to Jefferies analysts [1] - Other retailers like Target and Elf Beauty may also see positive impacts from the tariff reduction [1] E-Commerce Companies - Small and midcap e-commerce stocks may experience mixed effects; Etsy is noted to be the most insulated from tariff volatility due to its diversified trade routes [1] - Chewy and Wayfair are expected to be least impacted as they have already adapted to previous tariffs [1] Paper, Lumber, and Packaging - Local packaging and lumber companies may lose their competitive edge due to the new tariffs, with companies like Clearwater Paper and Rayonier flagged for negative impacts [1] - A survey indicated that U.S. buyers reported lower containerboard prices in February, intensifying pricing pressure from increased European imports [1] Automobiles - Legacy automakers such as Ford and General Motors are unlikely to see relief from tariffs, as most tariffs on the industry remain unaffected by the recent ruling [1] Steel, Aluminum, and Copper - Producers in these sectors, including Steel Dynamics and Alcoa, are expected to remain unaffected as tariffs will continue under Section 232 [1] Emerging Markets - China is anticipated to benefit significantly from the tariff changes, with analysts expecting tariff rates to decline from 32% to around 24% and 27% [1] - Other regions like India and Southeast Asia are also expected to see tariff reductions, with estimates of 4-5% for Southeast Asia and a drop to 14% for India [1]

Group 1: Market Movements - Asian stocks rose in thin holiday trade, influenced by progress in Iran-U.S. nuclear talks and a smaller-than-expected trade deficit in Japan [1] - Japanese markets advanced as exports surged in January and confidence improved in February, providing cautious relief for policymakers [3] - Australian markets closed higher for a third consecutive session, driven by robust first-quarter results from the National Bank of Australia [5] Group 2: Economic Data and Policy - The Reserve Bank of New Zealand maintained its "accommodative for some time" stance after holding interest rates at the lowest level in 3-1/2 years [1] - U.S. commerce secretary announced Japan's $36 billion investment in three projects, including a natural gas plant and a crude oil export facility [4] - New Zealand's benchmark S&P/NZX-50 index jumped 1.65% after the Reserve Bank indicated gradual normalization of rates [6] Group 3: Sector Performance - Technology stocks rallied, while gold stocks were weighed down by falling bullion prices due to easing geopolitical tensions [6] - Financials gained ground in U.S. markets, offsetting declines in software stocks amid concerns over AI investment returns [7]

加皇资本市场认为，SGH和Steel Dynamics对博思格钢铁(BlueScope Steel)提出的上调后的收购要约不太 可能成功。加拿大皇家银行在一份报告中称，每股34澳元（计入股息前）的报价"更多是作为一种向博 思格钢铁(BSL)董事会施压、促其接触并允许SGH/STDL进行尽职调查的工具，而非一次'一击制胜'的出 价"。该券商估计博思格钢铁的周期中点价值在30多澳元区间的中段，并认为一份要约需要"至少"达到 该水平才能成功。加拿大皇家银行称："我们不认为13%的提价足以弥合此前与董事会对其基本面价值 看法之间的差距。"这两家公司在12月份对博思格钢铁提出了每股30澳元的报价。博思格钢铁在悉尼市 场上涨2.5%，报28.71澳元。 来源：滚动播报 ...

Under the revised offer, BlueScope shareholders would receive 32.35 Australian dollars, equivalent to about US$22.93, per share in cash, Steel Dynamics and SGH said. https://t.co/nkOd1oNFqg ...

Core Viewpoint - BlueScope shareholders are set to receive a revised offer of 32.35 Australian dollars, which is approximately US$22.93 per share in cash from Steel Dynamics and SGH [1] Group 1 - The revised offer represents a significant cash payout for BlueScope shareholders [1] - The cash equivalent of the offer is highlighted as being approximately US$22.93 per share [1] - The offer is part of a strategic move by Steel Dynamics and SGH to acquire BlueScope [1]