Steel Dynamics Inc

Company facts

Industry

Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)

Headquarters

Fort Wayne, Indiana

Most recent report

10-Q, filed Oct 23, 2026

Incorporated

Indiana

Filings on record

1,005+ filings

On EDGAR

CIK 1022671

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 2 of 11 sections worth reading, with 3 positive, 6 notable, and 0 negative flags.

• Item 2

  Record steel shipments, 98% operating income jump, and aluminum startup details are all company-specific.
  Positive

  • Record quarterly steel shipments of 3.8 million tons in Q3 2026, up 5% from Q3 2025.
  • Consolidated operating income rose 98% to $1.0 billion in Q3 2026, driven by steel metal spread expansion of 35%.
  • Quarterly cash dividend raised 6% to $0.53 per share in Q1 2026, reflecting confidence in cash flow.
  Notable

  • Steel fabrication operating income fell 15% to $90.6 million in Q3 2026 as metal spread contracted 18%.
  • Aluminum mill shipped 55,000 metric tons in Q3 2026; net sales up 373% but operating loss was $26.2 million.
  • Interest expense rose 190% to $39.3 million in Q3 2026 as capitalized interest fell 72% after aluminum mill completion.
  • Working capital increased 25% to $5.5 billion, driven by higher receivables and inventories from aluminum startup.
  • Share repurchases totaled $590.9 million in first nine months of 2026, with $215.9 million remaining on authorization.

• Item 3

  Long-term take-or-pay commitments up to 26 years are a real cash obligation.
  Notable

  • Base metal financial contracts hedge profit margins on fixed-price customer/supplier deals; all settle within 12 months as of Q3 2026.

What changed: Sep 2026 vs. Jun 2026

About 2% of STLD's Sep 2026 10-Q is new information. 3 paragraphs were added, 67 changed, and 13 removed. Below are the most important lines SECSift identified.

• Item 2 37
• Item 4 2
• Item 3 1
• Item 1 1
• Item 5 1