---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-006889"
form_type: "8-K"
ticker: "STLD"
cik: "0001022671"
company_name: "STEEL DYNAMICS INC"
filed_at: "2026-01-27T23:59:59+00:00"
generated_at: "2026-05-16T07:22:02.337137+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Steel Dynamics Q4 net income $266M ($1.82 EPS); full-year earnings decline to $1.2B

## Summary
- Q4 net sales $4.4B; net income $266M vs $404M sequential and $207M YoY.
- Full-year net sales $18.2B (+3.6% YoY), net income $1.2B (-20% vs $1.5B), adjusted EBITDA $2.2B.
- Record steel shipments of 13.7M tons; average steel selling price $1,089/ton for 2025, down $15 YoY.
- Issued $800M notes in Nov 2025 (4.000% due 2028, 5.250% due 2035); redeemed $400M 5.000% notes due 2026.
- Share repurchases of $901M in 2025 (over 4% of outstanding); liquidity $2.2B; cash from ops $1.4B.

## SEC filing metadata
- accession: 0001104659-26-006889
- form_type: 8-K
- ticker: STLD
- cik: 0001022671
- company_name: STEEL DYNAMICS INC
- filed_at: 2026-01-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1022671/000110465926006889/0001104659-26-006889-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1022671/000110465926006889/tm264071d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-006889
- JSON: https://secwatch.observer/filing/0001104659-26-006889.json
- Plain text: https://secwatch.observer/filing/0001104659-26-006889.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.