Steel Dynamics Posts Strong Q1 on Record Shipments, Higher Prices

SEATTLE (Scrap Monster): Steel Dynamics, Inc. posted robust financial results for the first quarter of 2026, driven by record steel shipments and improved pricing across its core operations.

The company reported net sales of $5.2 billion and net income of $403 million, or $2.78 per diluted share, sharply higher than $266 million in the previous quarter and $217 million a year earlier. Operating income surged 73% to $538 million, while adjusted EBITDA reached $700 million.

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Steel shipments hit a record 3.6 million tons, supported by stronger demand from construction, automotive, energy, and industrial sectors. Average steel selling prices rose to $1,193 per ton, outpacing increases in ferrous scrap costs. The company’s steel segment delivered operating income of $557 million, while metals recycling earnings jumped 155% to $47 million.

Steel fabrication income remained steady at $90 million, with order backlogs rising over 38% year-on-year, extending into late 2026.

Meanwhile, aluminum operations continued ramp-up, with shipments increasing to 22,500 metric tons despite startup-related losses of $65 million.

Looking ahead, the company expects sustained demand growth, supported by infrastructure spending, onshoring trends, and expanding domestic manufacturing activity.