Jun. 17 at 10:22 PM
Steel Dynamics forecast Q2 2026 earnings of
$3.51–
$3.55 per diluted share, missing Wall Street expectations of
$4.16 per share. Despite the shortfall, the guidance is higher than both Q1 2026 earnings of
$2.78 per share and Q2 2025 earnings of
$2.01 per share.
Results were impacted by a
$16 million asset write-down tied to the relocation of a planned aluminum recycling facility from Arizona to Columbus, Mississippi. The company cited disagreements with Arizona authorities that could have affected construction and operations.
Steel Dynamics expects stronger steel segment profitability due to higher selling prices, expanding metal spreads, and solid demand. Its steel fabrication order backlog is about 40% higher than a year ago and extends through late 2026 into 2027. Aluminum operations are also expected to improve as shipments and realized prices increase, while the company repurchased
$170 million of stock during the quarter.
$STLD