Steel Dynamics reported Q1 2026 revenue of $5.2 billion, topping the $5.08 billion estimate and up from $4.8 billion YoY.
Adjusted EPS matched consensus at $2.78, while net income rose to $403 million from $217 million a year earlier.
Record steel shipments of 3.6 million tons and higher pricing lifted operating income by $228 million (73%) versus Q4 2025.
The company generated $148 million cash flow, invested $138 million in capex, returned $187 million to shareholders and held $2.0 billion liquidity.