Steel Dynamics guides Q3 EPS $5.34-$5.38 vs $3.69 prior quarter

STEEL DYNAMICS INC

Q3 2026 EPS guidance $5.34-$5.38 vs Q2 2026 EPS $3.69 and Q3 2025 EPS $2.74.
Steel ops expected significantly higher on metal margin expansion and record shipments; realized prices up, scrap costs lower.
Recycling ops expected lower on weaker spreads; fabrication improves modestly on stronger shipments, backlog up ~50% YoY.
Aluminum ops improve meaningfully; Columbus MS mill cold mills operational, first CASH line shipping commercial Q4.
Repurchased $261M (~1% of stock) in Q3; Q3 results due Oct 19, 2026, call Oct 20.

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