The earnings call presented a mixed outlook with several notable achievements such as record safety performance, increased steel operations income, and the first aluminum shipment. However, these were countered by challenges like the oxygen supply issue at Sinton, reduced income in metal recycling, and continued losses in aluminum operations. The sentiment is balanced with significant positive developments but notable challenges as well.

Company Guidance -

Q3 2025

In the Steel Dynamics second quarter 2025 earnings call, the company provided comprehensive guidance on various metrics. They reported a second quarter net income of $299 million, or $2.01 per diluted share, with adjusted EBITDA of $533 million. Revenues were noted at $4.6 billion, driven by higher realized steel pricing. Operating income increased by 39% from the previous quarter, reaching $383 million, bolstered by steel metal spread expansion. The steel operations alone generated an operating income of $382 million, a 65% sequential increase. The company's Metals Recycling operations recorded $21 million in operating income, albeit $4 million lower than the previous quarter due to reduced ferrous pricing. Steel Fabrication saw $93 million in operating income, though slightly down from the first quarter due to compressed margins. The Aluminum Operations reported operating losses totaling $69 million for the first half of 2025, with expectations to reduce these losses to $15-$20 million by the fourth quarter as the company ramps up production and completes commissioning. Additionally, the company achieved record quarterly shipments in Metals Recycling and highlighted significant progress in their biocarbon and aluminum flat-rolled coil shipments.

Record Safety Performance

Achieved an all-time low quarterly recordable and lost time injury rates; 80% of locations had no recordable injuries.

Increase in Steel Operations Income

Generated operating income of $382 million, over 65% higher sequentially due to increased steel pricing.

Volkswagen Global Group Award for Sustainability

Received the award for sustainability, recognizing the low-carbon steel program.

First Aluminum Shipment

Shipped first commercial quality aluminum flat-rolled coils, marking significant progress in the Aluminum Operations.

Record Quarterly Metals Recycling Shipments

Achieved record shipments in the Metals Recycling segment.

Steel Dynamics (STLD) Earnings, Revenues Date & History

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STLD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 15, 2025	2025 (Q3)	2.79 / -	2.05	―	―	―
Jul 21, 2025	2025 (Q2)	2.24 / 2.01	2.72	-26.10% (-0.71)
Apr 22, 2025	2025 (Q1)	1.38 / 1.44	3.67	-60.76% (-2.23)
Jan 22, 2025	2024 (Q4)	1.29 / 1.36	2.61	-47.89% (-1.25)
Oct 16, 2024	2024 (Q3)	1.98 / 2.05	3.47	-40.92% (-1.42)
Jul 17, 2024	2024 (Q2)	2.71 / 2.72	4.81	-43.45% (-2.09)
Apr 23, 2024	2024 (Q1)	3.51 / 3.67	4.01	-8.48% (-0.34)
Jan 23, 2024	2023 (Q4)	2.63 / 2.61	4.37	-40.27% (-1.76)
Oct 18, 2023	2023 (Q3)	3.54 / 3.47	5.46	-36.45% (-1.99)
Jul 19, 2023	2023 (Q2)	4.78 / 4.81	6.73	-28.53% (-1.92)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

STLD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 21, 2025	$134.53	$132.24	-1.70%
Apr 22, 2025	$116.94	$122.02	+4.34%
Jan 22, 2025	$121.92	$121.41	-0.42%
Oct 16, 2024	$128.32	$133.45	+4.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.