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Dec 17, 2025 8:10 AM

Steel Dynamics Provides Fourth Quarter 2025 Earnings Guidance

FORT WAYNE, Ind., Dec. 17, 2025 /PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS: STLD) today provided fourth quarter 2025 earnings guidance in the range of $1.65 to $1.69 per diluted share. Comparatively, the company's sequential third quarter 2025 earnings were $2.74 per diluted share, and prior year fourth quarter earnings were $1.36 per diluted share.

Fourth quarter 2025 profitability from the company's steel operations is expected to be meaningfully lower than sequential third quarter results due to lower average realized selling values and lower volumes related to both seasonal demand and planned maintenance outages at the company's flat rolled steel mills. In addition to lower seasonal activity, some of the planned maintenance outages were longer in duration than originally anticipated and decreased volume in the fourth quarter 2025 by an estimated 140,000 to 150,000 tons of flat rolled steel production. Average published indexed hot rolled steel prices decreased over $70 per ton from July to October 2025, lowering the company's fourth quarter sequential flat rolled steel selling values, due to commercial contracts that price on a lagging indexed basis. However, more recently flat rolled steel prices have improved, as import volume has declined and underlying demand has been seasonally steady.

Fourth quarter 2025 earnings from the company's metals recycling operations are expected to be lower than third quarter sequential results, based on lower seasonal shipments, as the domestic steel industry experienced a number of planned seasonal maintenance outages reducing ferrous scrap demand. Overall ferrous and nonferrous pricing also declined sequentially.

Fourth quarter 2025 earnings from the company's steel fabrication operations are expected to be lower than sequential third quarter ...

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