Steel DynamicsSTLDEarnings & Financial Report
Steel Dynamics, Inc. (SDI) is an American steel producer based in Fort Wayne, Indiana. With a production capacity of 13 million tons of steel, the company is the third largest producer of carbon steel products in the United States. It is among the most profitable American steel companies in terms of profit margins and operating margin per ton. Based on its 2021 revenue, the company ranked 196th on the 2022 edition of the Fortune 500.
STLD Q1 FY2026 Key Financial Metrics
Revenue
$5.2B
Gross Profit
$763.2M
Operating Profit
$538.0M
Net Profit
$400.1M
Gross Margin
14.7%
Operating Margin
10.3%
Net Margin
7.7%
YoY Growth
17.9%
EPS
$2.78
Steel Dynamics Q1 FY2026 Financial Summary
Steel Dynamics reported revenue of $5.2B (up 17.9% YoY) for Q1 FY2026, with a net profit of $400.1M (up 51.3% YoY) (7.7% margin). Cost of goods sold was $4.4B, operating expenses totaled $225.2M.
Key Financial Metrics
| Total Revenue | $5.2B |
|---|---|
| Net Profit | $400.1M |
| Gross Margin | 14.7% |
| Operating Margin | 10.3% |
| Report Period | Q1 FY2026 |
Revenue Breakdown
Steel Dynamics Q1 FY2026 revenue of $5.2B breaks down across 5 segments, led by Steel at $3.5B (68.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Steel | $3.5B | 68.0% |
| Metals Recycling | $593.2M | 11.4% |
| Other | $490.1M | 9.4% |
| Steel Fabrication | $355.4M | 6.8% |
| Aluminum | $227.4M | 4.4% |
Steel Dynamics Revenue by Segment — Quarterly Trend
Steel Dynamics revenue by segment across the last 4 reported quarters, showing how each business line (such as Steel and Metals Recycling) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Steel | $3.5B | — | — | — |
| Metals Recycling | $593.2M | — | — | — |
| Other | $490.1M | $442.1M | $461.3M | $404.6M |
| Steel Fabrication | $355.4M | — | — | — |
| Aluminum | $227.4M | — | — | — |
Steel Dynamics Annual Revenue by Year
Steel Dynamics annual revenue history includes year-by-year totals (for example, 2025 revenue was $18.2B).
Steel Dynamics Quarterly Revenue & Net Profit History
Steel Dynamics results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $5.2B | +17.9% | $400.1M | 7.7% |
| Q4 FY2025 | $4.4B | +14.0% | $266.0M | 6.0% |
| Q3 FY2025 | $4.8B | +11.2% | $403.7M | 8.4% |
| Q2 FY2025 | $4.6B | -1.5% | $298.7M | 6.5% |
| Q1 FY2025 | $4.4B | -6.9% | $217.2M | 5.0% |
| Q4 FY2024 | $3.9B | -11.6% | $207.3M | 5.4% |
| Q3 FY2024 | $4.3B | -5.4% | $317.8M | 7.3% |
| Q2 FY2024 | $4.6B | -8.8% | $428.0M | 9.2% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.63B | $4.34B | $3.87B | $4.37B | $4.57B | $4.83B | $4.41B | $5.20B |
| YoY Growth | -8.8% | -5.4% | -11.6% | -6.9% | -1.5% | 11.2% | 14.0% | 17.9% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $15.06B | $15.66B | $14.94B | $15.93B | $15.55B | $15.97B | $16.42B | $16.72B |
| Liabilities | $5.94B | $6.58B | $5.99B | $7.10B | $6.70B | $6.99B | $7.49B | $7.59B |
| Equity | $9.13B | $9.08B | $8.93B | $8.82B | $8.86B | $9.00B | $8.96B | $8.99B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $382.6M | $759.9M | $346.9M | $152.6M | $301.6M | $722.6M | $272.7M | $148.3M |