Steel Dynamics Q2 2026: revenue up 33.4%, EPS $3.69 on record shipments
Steel Dynamics earned $3.69 per diluted share on $6.09 billion of revenue in Q2 2026, up from $2.01 and $4.57 billion a year ago, with the top line 17.0% above Q1. The read: pricing and record volumes did the work, and the aluminum startup loss narrowed 48% sequentially. The only blemish is a 0.5% EPS miss against consensus.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $3.69 compares with $2.01 a year ago and $2.78 last quarter, but sits 0.5% below the $3.7092 consensus estimate. That small gap came with a $16 million non-cash impairment charge tied to relocating a planned aluminum slab center, which management explicitly says reduced the per-share result. Even ignoring that charge, this is a large step up from the prior three quarters.
Net sales of $6.09 billion rose 33.4% from $4.57 billion a year ago and 17.0% from Q1 2026's $5.20 billion. Both price and volume helped: total steel shipments hit a record 3.7 million tons and the steel segment's average external price rose $105 sequentially to $1,298 per ton. Aluminum added $497.9 million of revenue versus $65.6 million a year earlier.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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