Steel Dynamics Sees Lower Q4 2025 Earnings on Weak Prices, Seasonal Demand

SEATTLE (Scrap Monster): Steel Dynamics Inc. has issued its earnings outlook for the fourth quarter of 2025, forecasting diluted earnings per share between $1.65 and $1.69, down from $2.74 in the prior quarter and above last year’s result. The company cited softer steel pricing and lower seasonal shipments.

Fourth quarter profitability from steel operations is expected to weaken due to reduced selling values and lower volumes tied to seasonal demand and extended maintenance outages at flat rolled mills. These outages cut production by an estimated 140,000 to 150,000 tons. Indexed hot rolled coil prices fell more than $70 per ton from July to October, pressuring realized prices.

Key segment expectations include:

·         Steel operations affected by lower prices and maintenance-related volume losses

·         Metals recycling earnings pressured by weaker scrap demand and pricing

·         Steel fabrication results down on seasonal shipments despite stable pricing and backlog into mid-2026

Steel Dynamics continues commissioning its aluminum flat rolled facilities in Mississippi and Mexico, securing qualifications for beverage can, industrial and automotive products. The company also repurchased roughly $200 million of shares and plans to report results on January 26, 2026.

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