Steel Dynamics Q3 2026: sales up 34.8%, EPS $5.26
Steel Dynamics' third quarter 2026 was a margin quarter, not just a volume quarter: sales rose 34.8% to $6.51 billion, gross margin jumped to 19.7% from 15.7%, and net income nearly doubled to $756 million. EPS of $5.26 came in below the $5.52 consensus, the one visible blemish. Read the quarter as price plus scrap-cost relief flowing almost straight to the bottom line, with aluminum still a drag.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $5.26 is 92.0% above the $2.74 reported a year ago but 4.7% below the $5.52 consensus estimate. Only GAAP EPS was disclosed, with no adjusted figure to reconcile, so the miss sits directly on the reported line. Net income of $756 million was up 87.3% year over year.
Net sales of $6.51 billion rose 34.8% from $4.83 billion a year earlier and 6.9% from the prior quarter, on record steel shipments of 3.78 million tons. The average external steel price climbed $102 sequentially to $1,400 per ton while the ferrous scrap cost per ton melted fell $8 to $404, so price and input cost both helped.
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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 2026-11-03
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