Steel Dynamics (STLD) provided third quarter 2025 earnings guidance in the range of $2.60-$2.64 per diluted share, with improved earnings from each of the company’s three operating platforms. Comparatively, the company’s sequential second quarter 2025 earnings were $2.01 per diluted share, and prior year third quarter earnings were $2.05 per diluted share. Third quarter 2025 profitability from the company’s steel operations is expected to be stronger than sequential second quarter results, driven by strong shipments and metal spread expansion as scrap raw material costs are expected to decline more than average realized steel pricing. The non-residential construction, automotive, energy, and industrial sectors continue to lead demand. Third quarter 2025 earnings from the company’s metals recycling operations are expected to be significantly stronger than second quarter sequential results, based on steady shipments and stronger ferrous metal spread. Third quarter 2025 earnings from the company’s steel fabrication operations are also expected to be higher than sequential second quarter results, driven by increased volume combined with steady metal spread. The order backlog remains strong, with healthy pricing. Demand has largely been supported by the commercial, data center, manufacturing, warehouse, and healthcare sectors. Further, the accelerated announcements for meaningful domestic manufacturing investment and onshoring, coupled with the U.S. infrastructure program are expected to positively impact demand for not only steel joist and deck products, but also for flat rolled and long product steel. The aluminum team is continuing with the successful commissioning and startup of the company’s Columbus, Mississippi aluminum flat rolled products mill and San Luis Potosi satellite recycled slab center. The cast houses and hot strip mill are operating very well and performing above expectations for this stage of the startup, and commissioning is ongoing in other areas of the facility, including the cold mill.
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