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Steel Dynamics STLD Q2 2026 earnings

Reported July 20, 2026 · After market close

Revenue$6.1BBeat by $532.1M
EPS$3.69Beat by $0.06
Revenue estimate$5.6B
EPS estimate$3.63
“Our metals recycling, steel fabrication, and aluminum teams also had a solid performance. Our three-year after-tax return-on-invested capital of 13 percent is a testament to our ongoing high-return capital allocation execution. We are growing, returning capital to shareholders, and maintaining strong returns with best-in-class performance compared to domestic manufacturers.”
Mark D. Millett

Next report

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

Financials

Q2 2026

Income statement

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Revenue$6.1B+33.4%
Gross profit$959.0M+55.1%
Operating income$700.5M+83.0%
Net income$534.1M+78.8%
EPS (diluted)$3.69+83.6%

Balance sheet

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Cash & equivalents$567.7M+23.9%
Total debt$4.2B+10.6%
Total equity$9.4B+6.3%
Total assets$17.1B+10.1%

Cash flow

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Operating cash flow$427.9M+41.9%
CapEx$123.8M-57.0%
Free cash flow$304.1M+2,190%

Valuation & ratios

Valuation

as of 08/27/26
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Market cap$33.81B+73.1%
Enterprise value$37.43B+63.7%
P/E21×+2.3×
P/S1.7×+0.5×

Profitability

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Gross margin14.7%+2.1pp
Operating margin10%+2.5pp
Net margin7.8%+1.8pp
FCF margin4.7%+4.2pp

Returns & leverage

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Return on equity17.6%+6.0pp
Debt / equity0.4×0.0×
Current ratio3.2×+0.1×

Segments

By segment

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Steel Operations$4.1B+22.3%
Metals Recycling Operations$1.3B+8.9%
Corporate And Other$540.9M+49.6%
Aluminum Operations$518.9M+455%
Steel Fabrication Operations$393.9M+15.6%

By geography

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Non Us$472.7M+73.3%
Other Segments-$765.2M+1.5%

FAQ

When did Steel Dynamics report Q2 2026 earnings?
Steel Dynamics (STLD) reported Q2 2026 earnings on July 20, 2026 after market close.
What were Steel Dynamics's Q2 2026 revenue and EPS?
Steel Dynamics reported revenue of $6.1B and eps of $3.69 for Q2 2026.
Did Steel Dynamics beat estimates in Q2 2026?
Revenue beat the consensus estimate of $5.6B by $532.1M. EPS beat the consensus estimate of $3.63 by $0.06.
How did Steel Dynamics's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 33.4% from $4.6B a year earlier and eps grew 83.6% from $2.01.
Where can I find Steel Dynamics's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-085277) and the 10-Q periodic report (0001104659-26-087414) directly on SEC EDGAR. The filing index links above go to sec.gov.