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Steel Dynamics STLD Q2 2025 earnings

Reported July 21, 2025 · After market close

Revenue$4.6BMiss by $150.8M
EPS$2.01Miss by $0.23
Revenue estimate$4.7B
EPS estimate$2.24

Next report

Oct 19, 2026 (in 2 months)
Revenue estimate$6.3B
EPS estimate$5.41

Financials

Q2 2025

Income statement

See full
Revenue$4.6B-1.5%
Gross profit$618.5M-20.2%
Operating income$382.9M-31.5%
Net income$298.7M-30.2%
EPS (diluted)$2.01-26.1%

Balance sheet

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Cash & equivalents$458.0M-44.8%
Total debt$3.8B+24.9%
Total equity$8.9B-2.9%
Total assets$15.5B+3.2%

Cash flow

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Operating cash flow$301.6M-21.2%
CapEx$288.3M-31.2%
Free cash flow$13.3M+136%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$19.03B-7.4%
Enterprise value$22.36B-1.7%
P/E18.3×+8.1×
P/S1.1×0.0×

Profitability

See full
Gross margin12.5%-6.4pp
Operating margin7.5%-6.6pp
Net margin6.1%-5.0pp
FCF margin-0.6%-5.3pp

Returns & leverage

See full
Return on equity11.6%-11.0pp
Debt / equity0.4×+0.1×
Current ratio3.1×+0.8×

Segments

By segment

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Steel Operations$3.4B+4.2%
Metals Recycling Operations$1.2B-0.9%
Corporate And Other$361.4M-18.1%
Steel Fabrication Operations$340.7M-28.1%
Aluminum Operations$93.6M+4,917%

By geography

See full
Non Us$272.7M-30.0%
Other Segments-$776.8M-7.6%

FAQ

When did Steel Dynamics report Q2 2025 earnings?
Steel Dynamics (STLD) reported Q2 2025 earnings on July 21, 2025 after market close.
What were Steel Dynamics's Q2 2025 revenue and EPS?
Steel Dynamics reported revenue of $4.6B and eps of $2.01 for Q2 2025.
Did Steel Dynamics beat estimates in Q2 2025?
Revenue missed the consensus estimate of $4.7B by $150.8M. EPS missed the consensus estimate of $2.24 by $0.23.
How did Steel Dynamics's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 1.5% from $4.6B a year earlier and eps declined 26.1% from $2.72.
Where can I find Steel Dynamics's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001104659-25-069499) and the 10-Q periodic report (0001558370-25-011019) directly on SEC EDGAR. The filing index links above go to sec.gov.