secwatch.observer — SEC 8-K summary
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Issuer:     STEEL DYNAMICS INC (STLD)
CIK:        0001022671
Form:       8-K
Filed at:   2026-01-27T23:59:59+00:00
Accession:  0001104659-26-006889
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1022671/000110465926006889/0001104659-26-006889-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1022671/000110465926006889/tm264071d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-006889

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer