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STLD saw higher steel prices and shipments, with the selling price rising to $1,193 per ton.
Steel Dynamics expects strong demand through 2026, driven by pricing, sentiment and low-carbon materials.
Steel Dynamics, Inc. (STLD - Free Report) reported first-quarter 2026 earnings of $2.78 per share, up from $1.44 in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of $2.79.
Net sales in the first quarter were up around 19.1% year over year to $5,204.9 million. The metric surpassed the Zacks Consensus Estimate of $5,098.6 million.
Steel Dynamics, Inc. Price, Consensus and EPS Surprise
Net sales for steel operations were $3,539 million in the reported quarter, up around 15.4% year over year. STLD registered steel shipments of roughly 3.64 million tons in the quarter, topping the consensus estimate of 3.54 million tons.
STLD's steel operations reported an average external product selling price of $1,193 per ton, up from $998 in the year-ago quarter and from $1,107 in the previous quarter. The figure beat the consensus estimate of $1,160 per ton.
Net sales of Metal’s recycling operations were $593 million in the quarter under review, up around 11% from the year-ago quarter. STLD registered ferrous shipments of around 1.47 million gross tons in the quarter, up roughly 1.44% year over year. The figure outpaced the consensus of 1.46 million gross tons.
The company's steel fabrication operations reported sales of around $355 million, up roughly 1% year over year. Steel Dynamics recorded steel fabrication shipments of 143,442 tons in the quarter, up around 5.8% year over year. The figure missed the consensus estimate of 148,000 tons.
STLD’s Financial Position
Steel Dynamics ended the quarter with cash and cash equivalents of $556.5 million, down around 54% year over year. Long-term debt was $4,178.7 million, up roughly 10.6%.
The company generated cash flow from operations of $148.3 million in the reported quarter, down around 3.1% year over year.
STLD’s Outlook
The company remains optimistic that domestic steel and aluminum demand will stay strong through 2026 and beyond, supported by improving customer sentiment, higher order activity and better pricing, along with growing demand for low-carbon, domestically produced materials. It highlighted steady progress in commissioning key aluminum facilities, with the third cold mill expected to be commissioned by the third quarter of 2026. The company also emphasized that its growth strategy is centered on sustainability, operational efficiency and expanding into high-recycled-content aluminum to capture rising demand across packaging, automotive and industrial markets, supporting long-term value creation.
STLD’s Price Performance
Shares of Steel Dynamics have gained 84.4% over the past year compared with a 83.7% rise in its industry.
Image Source: Zacks Investment Research
STLD’s Zacks Rank & Key Picks
STLD currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth a look in the basic materials space are Galiano Gold Inc. (GAU - Free Report) , Materion Corporation (MTRN - Free Report) and Nexa Resources S.A. (NEXA - Free Report) .
Materion is expected to report first-quarter results on April 29. The Zacks Consensus Estimate for MTRN’s first-quarter earnings is pegged at $1.24 per share. It carries a Zacks Rank #2 at present.
NEXA is scheduled to report first-quarter results on May 6. The Zacks Consensus Estimate for NEXA’s first-quarter earnings is pegged at 61 cents per share. It currently carries a Zacks Rank #2.
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Steel Dynamics Q1 Earnings Miss, Revenues Top Estimates
Key Takeaways
Steel Dynamics, Inc. (STLD - Free Report) reported first-quarter 2026 earnings of $2.78 per share, up from $1.44 in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of $2.79.
Net sales in the first quarter were up around 19.1% year over year to $5,204.9 million. The metric surpassed the Zacks Consensus Estimate of $5,098.6 million.
Steel Dynamics, Inc. Price, Consensus and EPS Surprise
Steel Dynamics, Inc. price-consensus-eps-surprise-chart | Steel Dynamics, Inc. Quote
STLD’s Segment Highlights
Net sales for steel operations were $3,539 million in the reported quarter, up around 15.4% year over year. STLD registered steel shipments of roughly 3.64 million tons in the quarter, topping the consensus estimate of 3.54 million tons.
STLD's steel operations reported an average external product selling price of $1,193 per ton, up from $998 in the year-ago quarter and from $1,107 in the previous quarter. The figure beat the consensus estimate of $1,160 per ton.
Net sales of Metal’s recycling operations were $593 million in the quarter under review, up around 11% from the year-ago quarter. STLD registered ferrous shipments of around 1.47 million gross tons in the quarter, up roughly 1.44% year over year. The figure outpaced the consensus of 1.46 million gross tons.
The company's steel fabrication operations reported sales of around $355 million, up roughly 1% year over year. Steel Dynamics recorded steel fabrication shipments of 143,442 tons in the quarter, up around 5.8% year over year. The figure missed the consensus estimate of 148,000 tons.
STLD’s Financial Position
Steel Dynamics ended the quarter with cash and cash equivalents of $556.5 million, down around 54% year over year. Long-term debt was $4,178.7 million, up roughly 10.6%.
The company generated cash flow from operations of $148.3 million in the reported quarter, down around 3.1% year over year.
STLD’s Outlook
The company remains optimistic that domestic steel and aluminum demand will stay strong through 2026 and beyond, supported by improving customer sentiment, higher order activity and better pricing, along with growing demand for low-carbon, domestically produced materials. It highlighted steady progress in commissioning key aluminum facilities, with the third cold mill expected to be commissioned by the third quarter of 2026. The company also emphasized that its growth strategy is centered on sustainability, operational efficiency and expanding into high-recycled-content aluminum to capture rising demand across packaging, automotive and industrial markets, supporting long-term value creation.
STLD’s Price Performance
Shares of Steel Dynamics have gained 84.4% over the past year compared with a 83.7% rise in its industry.
STLD’s Zacks Rank & Key Picks
STLD currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth a look in the basic materials space are Galiano Gold Inc. (GAU - Free Report) , Materion Corporation (MTRN - Free Report) and Nexa Resources S.A. (NEXA - Free Report) .
Galiano is slated to report quarterly results on May 13. The Zacks Consensus Estimate for earnings is pegged at 17 cents per share. GAU has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Materion is expected to report first-quarter results on April 29. The Zacks Consensus Estimate for MTRN’s first-quarter earnings is pegged at $1.24 per share. It carries a Zacks Rank #2 at present.
NEXA is scheduled to report first-quarter results on May 6. The Zacks Consensus Estimate for NEXA’s first-quarter earnings is pegged at 61 cents per share. It currently carries a Zacks Rank #2.