US based Steel Dynamics, Inc. has provided third quarter 2026 earnings guidance, projecting significantly higher profitability from its steel operations compared with second quarter results, driven by metal margin expansion across the platform and record shipments. The company expects average realized steel selling values to increase in combination with lower scrap costs. Steel customer order activity remains strong, supported by solid underlying demand and persistently low customer inventories, which continue to support favorable pricing conditions. Demand across key end markets remains solid, led by non-residential construction, energy, automotive, and industrial sectors.
Third quarter earnings from the company's metals recycling operations are expected to be lower than sequential second quarter results, due to lower metal spreads and modestly lower shipments.
Earnings from the company's steel fabrication operations are expected to improve modestly, supported by stronger shipments. Customer order activity remains strong, building on the momentum that began in late 2025, with the current backlog nearly 50 percent higher than prior year third quarter levels and extending through the first quarter of 2027. Demand remains healthy across commercial construction, data center and warehouse development, manufacturing and healthcare markets. Looking into 2027, the company anticipates further steel fabrication volume growth supported by continued domestic manufacturing investment, US infrastructure spending and stimulus programs, and ongoing onshoring activity.
The company has repurchased $261 million, or just under one percent, of its common stock so far during the third quarter of 2026.
Steel Dynamics plans to release its third quarter 2026 results after the market closes on October 19, 2026.
.jpg)