Core Points - Steel Dynamics, Inc. has completed the sale of $650 million of 4.000% Notes due 2028 and an additional $150 million of 5.250% Notes due 2035, with the latter issued at a price of 101.443% of their principal amount, resulting in an implied yield of 5.053% [1][2] - The net proceeds from the issuance will be used to redeem $400 million of 5.000% Notes due 2026 and for general corporate purposes [1][2] Financial Strategy - The company aims to enhance its capital foundation and maintain investment grade credit ratings, which are expected to provide lower-cost and longer-term capital [2] - The redemption of the 2026 Notes is scheduled for December 21, 2025, at a price of 100.000% plus accrued interest [2] Company Overview - Steel Dynamics is a leading industrial metals solutions company operating in the U.S. and Mexico, focusing on lower-carbon-emission products using recycled scrap [5] - The company is one of the largest domestic steel producers and metal recyclers in North America and is diversifying into aluminum operations [5]

Group 1 - Cleveland-Cliffs (CLF) stock received a positive adjustment to its Relative Strength (RS) Rating, increasing from 78 to 82, indicating improved technical performance compared to other stocks [1] - Nucor's RS Rating climbed to 74, reflecting rising price performance and an upgrade in its relative strength [3] - Steel Dynamics also saw its RS Rating jump to 82, showcasing improved relative price performance [3] Group 2 - The stock market experienced fluctuations, with the Dow Jones Industrial Average jumping as Nvidia considers market entry, while Apple remains among stocks near buy points [3] - Cleveland-Cliffs stock surged due to transformative deals influenced by Trump tariffs, highlighting the impact of external factors on stock performance [3]

Core Viewpoint - Steel Dynamics reported strong financial performance in Q3 2025, with earnings per share of $2.74, exceeding estimates and showing significant year-over-year growth [2][3] Financial Performance - Q3 2025 earnings per share increased to $2.74 from $2.05 in the same quarter last year, beating the Zacks Consensus Estimate of $2.66 [2] - Net sales rose approximately 11.2% year-over-year to $4,828.2 million, surpassing the Zacks Consensus Estimate of $4,690.7 million [2] - Cash flow from operations was $722.6 million, down around 5% year-over-year [7] Segment Highlights - Steel operations net sales reached $3,538.04 million, up about 21.3% year-over-year, with record steel shipments of approximately 3.6 million tons [4] - Average external product selling price for steel was $1,119 per ton, an increase from $1,059 in the previous year [4] - Metal recycling operations net sales were $520.99 million, up around 4.5% year-over-year, with ferrous shipments of about 1.59 million gross tons, an increase of 8.8% [5] - Steel fabrication operations reported sales of approximately $377.7 million, down roughly 15.56% year-over-year, with shipments of 151,563 tons, down around 4.4% [6] Financial Position - Cash and cash equivalents at the end of the quarter were $770.4 million, down about 24.12% year-over-year [7] - Long-term debt increased to $3,781 million, up roughly 35% from the previous year [7] Outlook - The company anticipates improving market conditions due to greater trade stability, policy clarity, and a favorable interest rate environment, which are expected to drive stronger domestic demand for steel and aluminum products [8] - Management expects a reduction in unfairly traded imports, benefiting operations and market positioning [8] - The company is focused on low-carbon, U.S.-made steel and aluminum solutions, with ongoing expansion in aluminum flat-rolled products [10]

Core Insights - Steel Dynamics, Inc. has appointed Matt Bell as the head of its metals recycling platform, effective immediately, succeeding Miguel Alvarez [1][2] - Matt Bell has been with the company since 2016 and has held various leadership roles, contributing to the growth and efficiency of the metals recycling teams [2][3] - The company operates a circular manufacturing model, focusing on lower-carbon-emission products and is one of the largest domestic steel producers and metal recyclers in North America [4] Company Overview - Steel Dynamics, Inc. is a leading industrial metals solutions company with facilities across the United States and Mexico [4] - The company is committed to producing high-quality, value-added metal products while maintaining integrity and safety in operations [4] - Steel Dynamics is investing in aluminum operations to diversify its product offerings, particularly targeting the sustainable beverage can industry and automotive sectors [4] Leadership Transition - Matt Bell will serve as Vice President of Metals Recycling and President of OmniSource, overseeing the metals recycling platform [3] - His previous role involved developing ferrous purchasing and sales growth strategies, optimizing scrap supply for steel operations [3] - The leadership transition is part of the company's ongoing succession planning, ensuring continuity in leadership and operational excellence [2]

Got a big closing bell. Jeffrey Gunlock as usual following the Fed share and then we're going to take you right up to those big earnings reports. Got some great guests, some shareholders.We'll cover all of that for you. Why it's final. >> FTA, you have to buy it when it's slightly dislocated as it is now.>> Okay, Carrie. >> Uh, next year just reported good quarter and now it's a data center play. >> Thank you very much, Liz Thomas.>> I think software gets chased into year end in this tech play. >> Joey Donu ...

Group 1 - The market is currently experiencing a dislocation, presenting potential buying opportunities for certain assets [1] - A company has reported a strong quarterly performance and is now positioned as a data center play, indicating a shift in its business focus [1] - There is an expectation that software stocks will see increased interest as the year-end approaches, suggesting a bullish sentiment in the tech sector [2] Group 2 - The upcoming Federal Reserve decision is a significant event that is influencing market sentiment and trading strategies [2]

Financial Performance - In Q3 2025, Steel Dynamics achieved record quarterly steel shipments of 3.6 million tons, a 14% increase compared to Q3 2024[64][70][73]. - Consolidated operating income for Q3 2025 increased by $112.3 million, or 28%, to $507.8 million, driven by expanded metal spreads in steel and metals recycling operations[65][75]. - Net income attributable to Steel Dynamics in Q3 2025 rose by $85.9 million, or 27%, to $403.7 million, consistent with increased operating income[65]. - For the first nine months of 2025, consolidated operating income decreased by $539.8 million, or 32%, to $1.2 billion, reflecting a decline in metal spreads despite higher shipment volumes[66][75]. Sales and Revenue - Steel operations accounted for 73% of consolidated net sales in Q3 2025, with net sales increasing by 21% to $3.65 billion compared to Q3 2024[67][69]. - The average selling price for steel operations increased by 6%, or $61 per ton, in Q3 2025 compared to Q3 2024, contributing to higher net sales[73]. - Metals recycling operations net sales increased by 10% to $1.13 billion in Q3 2025, benefiting from higher domestic steel industry demand[67]. - The aluminum operations segment reported a 26% increase in net sales to $104.4 million in Q3 2025, indicating growth in this area[67]. Operational Metrics - The metallic raw material cost per net ton consumed in steel mills increased by $14 per ton, or 4%, in Q3 2025 compared to the same period in 2024[74]. - Ferrous scrap shipments increased by 9% in Q3 2025 compared to Q3 2024, with external shipments totaling 538,020 gross tons[80]. - Nonferrous shipments decreased by 4% in Q3 2025, totaling 189,043 thousand pounds, while average selling prices for nonferrous metals increased by 3%[80]. - Metals recycling operations operating income surged by 414% to $31.5 million in Q3 2025 compared to Q3 2024, driven by increased metal spreads[80]. Segment Performance - Steel fabrication operations experienced a 16% decline in net sales in Q3 2025, totaling $378.3 million, reflecting a decrease in average selling prices[67]. - Steel fabrication operations net sales decreased by 16% in Q3 2025, with average selling prices down by $341 per ton, or 12%[86]. - Operating income for steel fabrication operations decreased by 35% to $107.0 million in Q3 2025, attributed to a 17% contraction in metal spread[87]. - Aluminum operations began producing and selling aluminum coils in Q2 2025, with expectations for steady volume increases as operations ramp up[89]. Expenses and Liquidity - Selling, general and administrative expenses increased by 20% to $200.8 million in Q3 2025, primarily due to payroll and benefits expenses[91]. - Total liquidity as of September 30, 2025, was $2.2 billion, including cash and equivalents of $770.4 million and revolver availability of $1.2 billion[102]. - Total outstanding debt increased by $551.4 million to $3.8 billion as of September 30, 2025, due to the issuance of senior unsecured notes[102]. - Working capital increased by 26% to $4.1 billion at September 30, 2025, driven by a $344.8 million increase in accounts receivable[106]. Shareholder Returns - The quarterly cash dividend was increased by 9% to $0.50 per share in Q1 2025, resulting in declared cash dividends of $221.7 million for the first nine months of 2025, compared to $214.6 million in the same period of 2024[108]. - Share repurchase program authorized for up to $1.5 billion, with $660.6 million repurchased in the first nine months of 2025, down from $917.0 million in 2024; $1.0 billion remains available under the program as of September 30, 2025[109]. Market Risks and Commitments - The company anticipates that cash flows from operations will be adequate for the next twelve months to meet debt service obligations and fund working capital requirements[110]. - The company is exposed to market risks related to price fluctuations of raw materials and product sales, implementing strategies to obtain competitive prices[111]. - Commitments with suppliers for raw materials include "take or pay" provisions for specified quantities, with some contracts extending up to 27 years for certain products[112]. - Fixed price contracts are in place for future delivery of nonferrous and ferrous metals, with the goal of protecting profit margins[113].

Group 1 - Steel Dynamics, Inc. (STLD) is experiencing significant activity in the options market, particularly with the Nov 21, 2025 $75.00 Put showing high implied volatility, indicating potential for a major price movement [1] - Implied volatility reflects market expectations for future stock movement, suggesting that investors anticipate a significant event that could lead to a rally or sell-off [2] - Steel Dynamics currently holds a Zacks Rank 3 (Hold) in the Steel - Producers industry, which is in the bottom 30% of the Zacks Industry Rank, indicating a less favorable outlook [3] Group 2 - Over the past 60 days, earnings estimates for Steel Dynamics have seen mixed revisions, with one analyst increasing estimates while two have decreased them, resulting in a consensus estimate drop from $2.56 to $2.51 per share for the current quarter [3] - The high implied volatility may present trading opportunities, as options traders often seek to sell premium on such options, hoping the stock does not move as much as expected by expiration [4]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Core Insights - Steel Dynamics, Inc. (STLD) reported third-quarter 2025 earnings of $2.74 per share, an increase from $2.05 in the same quarter last year, surpassing the Zacks Consensus Estimate of $2.66 [1][9] - Net sales for the quarter reached $4,828.2 million, reflecting an 11.2% year-over-year increase and exceeding the Zacks Consensus Estimate of $4,690.7 million [1][9] Financial Performance - The company achieved a sequential improvement in margins due to strong financial performance and operational milestones [2] - Steel operations net sales were $3,538.04 million, up approximately 21.3% year over year, with record steel shipments of about 3.6 million tons [3] - The average external product selling price for steel was $1,119 per ton, up from $1,059 in the previous year but down from $1,134 in the previous quarter [4] - Metal recycling operations generated net sales of $520.99 million, a 4.5% increase year over year, with ferrous shipments of around 1.59 million gross tons, up 8.8% [5] - Steel fabrication operations reported sales of approximately $377.7 million, down 15.56% year over year, with shipments of 151,563 tons, down 4.4% [6] Financial Position - At the end of the quarter, the company had cash and cash equivalents of $770.4 million, a decrease of 24.12% year over year, and long-term debt of $3,781 million, an increase of roughly 35% [7] - Cash flow from operations was $722.6 million, down about 5% year over year [7] Market Outlook - The company anticipates improving market conditions driven by greater trade stability, policy clarity, and a favorable interest rate environment, which are expected to enhance domestic demand for steel and aluminum products [8] - Management expects a reduction in unfairly traded imports, benefiting operations and market positioning [8] - The focus on low-carbon, U.S.-made steel and aluminum solutions is expected to strengthen the company's competitive advantage [9][10] Stock Performance - Shares of Steel Dynamics have increased by 12.8% over the past year, compared to an 11.8% rise in its industry [11]