The financials
Steel Dynamics, Inc. by the numbers
Steel Dynamics, Inc. (STLD) reported revenue of $6.09B in Q2 2026 (quarter ended June 30, 2026), up 33% from the same quarter a year earlier. That came with a gross margin of 16% and net income of $531M (8.7% of revenue). For the full year FY2025, revenue was $18.2B (+3.6% year on year) and net income $1.19B. Its largest segment in 2026-Q1 was Steel Operations at $3.40B, 70% of the disclosed total, just ahead of Corporate And Other at 10.0%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $6.09B | $4.57B | +33% |
| Gross profit | $959M | $618M | +55% |
| Operating income | $700M | $383M | +83% |
| Net income | $531M | $301M | +76% |
| Diluted EPS | $3.69 | $2.01 | +84% |
| Operating | Revenue | Share |
|---|---|---|
| Steel Operations | $3.40B | 70% |
| Corporate And Other | $486M | 10.0% |
| Metals Recycling Operations | $407M | 8.3% |
| Steel Fabrication Operations | $355M | 7.3% |
| Aluminum Operations | $227M | 4.7% |
Business Segments
Revenue split by operating segment, from SEC XBRL filings.
Latest period: Q1 2026Total $4.88B (+8.3%)
Aluminum Operations grew +241% year on yearSteel Fabrication Operations +1.0% year on year
Segment Latestquarter on quarteryear on year
- Steel Operations$3.40B$3.40BQoQ +0.71%year on year +17%+0.71%+17%
- Corporate And Other$485.7M$485.7MQoQ +53%year on year +40%+53%+40%
- Metals Recycling Operations$407.1M$407.1MQoQ +13%year on year +9.5%+13%+9.5%
- Steel Fabrication Operations$355.4M$355.4MQoQ -5.7%year on year +1.0%-5.7%+1.0%
- Aluminum Operations$227.3M$227.3MQoQ +220%year on year +241%+220%+241%