From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 1m
Steel Dynamics Q3 2026 Earnings Miss
Steel Dynamics misses Q3 2026 EPS estimate despite 35% revenue growth.
In brief
Steel Dynamics misses Q3 2026 EPS estimate despite 35% revenue growth. Steel Dynamics reported $5.26 EPS for Q3 2026, missing $5.52 consensus but showing 35% year-over-year revenue growth and 11.6% net margin. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
Q3 2026 Earnings Report
Steel Dynamics reported $5.26 EPS for Q3 2026, missing $5.52 consensus estimate by 2.6%.
Revenue and Margin Growth
Revenue rose 35% year-over-year to $6.51B with net margin at 11.6% in Q3 2026.
Net Income Expansion
Net income nearly doubled to $755.7M from $403.7M in Q3 2025.
Sequential Momentum
Revenue grew for four consecutive quarters from $4.41B in Q4 2025 to $6.51B in Q3 2026.
Segment Performance
Steel segment generated $4.35B revenue with 23.0% growth, representing two-thirds of total revenue.
Pricing Momentum
Average selling prices per ton increased $102, driving $1 billion operating income in steel operations.
“Our steel operations generated operating income of $1 billion in the third quarter, a 43% sequential increase as average selling prices per ton increased $102.”
What to Watch
Sustainability of $102 per-ton pricing gain and steel shipment volumes at 4 million tons will determine Q4 performance.
At a glance
Steel Dynamics reported $5.26 EPS for Q3 2026, missing $5.52 consensus but showing 35% year-over-year revenue growth and 11.6% net margin.
