Steel Dynamics reported net income of USD 403 mln in the first quarter of 2026, compared with USD 266 mln in the previous quarter and USD 217 mln a year earlier, supported by higher steel shipments and improved pricing.
Net sales reached USD 5.2 bln in the quarter, with operating income rising 73pct quarter-on-quarter, driven by record shipments and expanded margins. The company’s average steel selling price increased by USD 86 to USD 1,193 per ton, while scrap costs rose by USD 22 to USD 396 per ton.
Steel operations generated operating income of USD 557 mln, supported by stronger demand from the energy, non-residential construction, automotive and industrial sectors. The company also noted improved order activity, higher backlogs and extended lead times, reflecting a strengthening domestic market environment.
Metals recycling operating income rose 155pct quarter-on-quarter to USD 47 mln, supported by higher selling prices, while steel fabrication income remained stable at USD 90 mln as increased shipments were offset by margin pressure from higher input costs.
The company’s aluminum segment continued ramp-up, with shipments increasing to 22,500 tons, although startup-related costs resulted in an operating loss of USD 65 mln. Steel Dynamics expects shipments and earnings from aluminum operations to improve in the second quarter.
Steel Dynamics said market conditions remain supportive, with demand expected to stay strong through 2026, driven by infrastructure spending, manufacturing onshoring and regional supply chain shifts.
Steel Dynamics is a leading industrial metals solutions provider with operations across the United States and Mexico. The company is among the largest steel producers and metal recyclers in North America and also operates a significant downstream steel fabrication platform. It has recently expanded into aluminum, further diversifying its portfolio with flat rolled aluminum products.