Every 10-Q that Steel Dynamics Inc (STLD) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow STLD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full STLD filings page.
Steel Dynamics reported strong Q2 2026 results, with net sales of $6.09 billion and net income attributable to the company of $534.1 million, up from $4.57 billion and $298.7 million a year earlier. Diluted EPS rose to $3.69 from $2.01.
Operating income climbed 83% to $700.5 million as steel and metals recycling metal spreads widened and record steel shipments reached 3.7 million tons. For the first half of 2026, net sales were $11.30 billion and net income attributable was $937.5 million, up 82% year over year.
The aluminum segment ramped commissioning, generating $518.9 million of Q2 sales but a $49.9 million operating loss, including a $16 million non‑cash impairment. Cash from operations was $576.3 million in the first half, with $2.01 billion of liquidity and a debt‑to‑capitalization ratio of 0.31.
Steel Dynamics, Inc. reported significantly stronger results for the quarter ended March 31, 2026. Net sales rose 19% to $5.20 billion, driven by higher steel prices and improved metals recycling spreads. Net income attributable to the company increased 86% to $403.4 million, and diluted EPS grew to $2.78 from $1.44.
Steel operations led performance with a 16% increase in segment sales and a 143% jump in operating income to $555.5 million, helped by a 30% expansion in steel metal spreads and record 3.6 million tons of steel shipments. Metals recycling operating income rose 85% as ferrous and nonferrous spreads widened, while steel fabrication saw a 23% decline in operating income due to compressed metal spreads despite higher volumes.
The aluminum segment more than doubled sales as the recycled flat rolled mill ramped up, though it posted a startup-related operating loss. Cash from operations was $148.3 million, liquidity totaled $2.0 billion, and long-term debt remained at $4.2 billion with a debt-to-capitalization ratio of 0.32. The company increased its quarterly dividend to $0.53 per share and repurchased $115.1 million of stock.
Steel Dynamics (STLD) reported stronger Q3 2025 results. Net sales were $4.83 billion, up 11% year over year, and operating income rose to $507.8 million from $395.4 million. Net income attributable to Steel Dynamics increased to $403.7 million, with diluted EPS of $2.74 versus $2.05 a year ago.
The company achieved record steel shipments of 3.6 million tons, as higher selling prices and improved metal spreads supported margins in steel and metals recycling. Steel operations operating income rose 65% to $496.8 million. Metals recycling operating income increased to $31.5 million, driven by higher spreads, particularly in nonferrous.
For the first nine months, operating income was $1.17 billion and net cash from operating activities was $1.18 billion. Year‑to‑date capital expenditures were $759.5 million, and share repurchases totaled $660.6 million. In March, the company issued $1.0 billion of senior notes (net proceeds $972 million) and repaid its $400 million 2.40% notes at maturity in June. Shares outstanding were 146,156,096 as of September 30, 2025.
Steel Dynamics reported weaker profitability in the quarter and first half of 2025 despite stable shipment volumes. Consolidated net sales were $4.565 billion for the three months ended June 30, 2025, with consolidated operating income of $382.9 million, down 32% from $559.1 million a year earlier. Net income attributable to Steel Dynamics, Inc. was $298.7 million for the quarter (basic and diluted EPS of $2.01), a 30% decline from the prior-year quarter. For the six months, net sales were $8.934 billion and net income attributable to SDI was $515.9 million, down 49% year-over-year.
Operationally, steel shipments remained strong at 3.3 million tons in Q2 2025 (3.0 million excluding intra-segment), and metals recycling achieved record quarterly ferrous scrap shipments. The company issued $600 million of 5.250% notes due 2035 and $400 million of 5.750% notes due 2055 in March 2025, raising net proceeds of $972 million. Inventories rose to $3.261 billion and total assets were $15.549 billion at June 30, 2025. The company recorded a $32.3 million correction to write off consumable assets, which increased cost of sales and reduced supplies inventory.