Overview
Steel Dynamics Inc. (NASDAQ:STLD) shares declined 1% after the company released its second‑quarter 2026 earnings guidance that fell short of Wall Street forecasts.
Guidance Details
The company projected diluted earnings per share (EPS) for Q2 2026 in the range of $3.51 to $3.55. Analysts’ consensus estimate was $4.16 per diluted share. This guidance represents an increase from $2.78 per diluted share reported for Q1 2026 and from $2.01 per diluted share in Q2 2025.
Impact of Asset Write‑down
Steel Dynamics said earnings for the quarter were reduced by $16 million because of asset write‑downs associated with the decision to move its planned second satellite aluminum recycled‑slab center from Arizona to Columbus, Mississippi. The relocation was prompted by differences with Arizona state officials that threatened construction and operation of the facility.
Operational Outlook
- Steel operations profitability is expected to be higher than Q1 results, driven by strong demand and expansion in metal margins, as average realized selling values rose faster than scrap raw‑material costs.
- The steel fabrication order backlog is approximately 40 % higher than a year earlier and is projected to run through the end of 2026 and into 2027.
- Aluminum operations earnings are anticipated to improve versus Q1, supported by higher shipments and better realized pricing. Two of the three cold mills at the Columbus, Mississippi flat‑rolled aluminum mill are already operational, with the third mill slated to begin qualifying material in July 2026.
Share Repurchase
During Q2 2026 the company repurchased $170 million of its common stock.
Upcoming Release
Full second‑quarter 2026 earnings results are scheduled to be released after market close on July 20 2026.