Steel Dynamics, Inc. announced third quarter 2025 financial results, including net sales of $4.8 billion and net income of $404 million.
Comparatively, the company’s sequential second quarter 2025 net income was $299 million, and prior year third quarter net income was $318 million.
In a press release, the company said third quarter 2025 operating income for its steel operations was $498 million, 30 percent higher than sequential second quarter results, due to record steel shipments and metal spread expansion, as scrap raw material costs declined more than average realized steel selling values.
The Steel Dynamics steel teams have scheduled normal maintenance outages at the company’s Butler, Columbus, and Sinton Flat Roll Steel divisions during the fourth quarter 2025, which could reduce production by as much as 85,000 tons of flat rolled steel in the quarter.
Third quarter 2025 operating income from the company’s metals recycling operations was $32 million, or $10 million higher than sequential earnings, based on near-record ferrous scrap shipments and metal spread expansion.
The company said its steel fabrication operations achieved a strong operating income of $107 million in the third quarter 2025. This is higher than sequential second quarter results of $93 million, due to a 12 percent increase in shipments.
The order backlog maintained solid levels extending through the first quarter 2026, supported by stable pricing. In addition, demand was largely driven by the commercial, data center, manufacturing, warehouse, and healthcare sectors.
“We anticipate that improving market conditions, including increased trade stability and a more favorable interest rate environment, will contribute to strong domestic demand for steel and aluminum products,” said Mark D. Millett, Chairman and CEO of Steel Dynamics. “Additionally, discussions with our customers reinforce the increasing importance of low-carbon, U.S.-made steel and aluminum – positioning our businesses for a long-term competitive advantage. We expect a favorable market environment to take shape as unfair trade practices diminish, policy clarity improves, and U.S. manufacturing continues to expand – driving stronger demand.”