# Steel Dynamics Q3 2026 Earnings

> Steel Dynamics reports record shipments and $756M net income despite aluminum ramp setback.
- Title: Steel Dynamics Q3 2026 Earnings · BigGo Finance | Shortify
- Summary: Steel Dynamics reports record shipments and $756M net income despite aluminum ramp setback. Steel Dynamics achieved record 3.8 million ton steel shipments…
- Keywords: steel dynamics, q3 2026, net income, aluminum ramp, hot strip mill, columbus aluminum mill, mark millett, theresa wagler, finance, markets, Steel, Dynamics
- Source: BigGo Finance — https://finance.biggo.com/news/US_STLD_2026-10-20
- Author: BigGo Finance
- Published: 2026-10-20T17:34:17+00:00
- Read time: 1 min
- Topics: steel dynamics, q3 2026, net income, aluminum ramp, hot strip mill, columbus aluminum mill, mark millett, theresa wagler, finance, markets
## Q3 2026 Results
Steel Dynamics reported third-quarter 2026 net income of $756 million, or $5.26 per diluted share, on revenues of $6.5 billion.
## Record Steel Shipments
Record quarterly steel shipments of 3.8 million tons drove operating income up 43% sequentially to $1 billion with mill utilization at 92%.
## Aluminum Ramp Setback
A hot strip mill surface-quality problem caused a $26 million segment operating loss and several weeks of lost production.
## Management Response
CEO Mark Millett said the issue is resolved with the hot strip mill running at 75% in October and targeting 90% by year-end.
## Leadership Transition
CFO Theresa Wagler will succeed retiring CEO Mark Millett at the end of 2026 after leading the company from $3 billion to $35 billion market cap.
## Aluminum Progress
All three cold mills are operational with automotive products qualified at multiple automakers for 5182 and 5754 products.
## Aluminum Outlook
Aluminum business expected to be EBIT positive in Q1 2027 after current $26 million loss.
## Steel Market Strength
Flat-rolled market conditions remain favorable with lean inventories and extended lead times into 2027.
## Pricing Trends
Average selling prices rose to $102 per ton lifting steel operations operating income 43% sequentially to $1 billion.
## Aluminum Yields
Yields are the biggest margin lever for aluminum with improved scrap content expected through early 2027.
## Fourth Quarter Outlook
Aluminum volumes and profitability expected to rise sharply in Q4 2026 as startup costs subside and yields improve.
## Key takeaway

Steel Dynamics achieved record 3.8 million ton steel shipments and $756 million net income in Q3 2026, though aluminum operations faced a $26 million loss due to a hot strip mill issue.