Steel Dynamics Q1 revenue beats on record steel shipments

Steel Dynamics

20/04/2026 21:40

Overview

U.S. steelmaker's Q1 revenue rose, beating analyst expectations

Adjusted EPS for Q1 slightly missed analyst consensus

Company raised quarterly dividend by 6%

Outlook

Steel Dynamics expects strong domestic steel and aluminum consumption through 2026 and beyond

Company says customer optimism, order entry activity, and pricing have been improving

Third cold mill and second CASH line at Columbus aluminum facility expected to commission in Q3 2026

Result Drivers

RECORD STEEL SHIPMENTS AND PRICING - Co said higher steel shipments and increased steel prices drove operating income growth

STRONG SECTOR DEMAND - Co cited strengthened underlying steel demand, with customer orders and backlogs increasing, led by energy, non-residential construction, automotive, and industrial sectors

ALUMINUM RAMP-UP AND STARTUP COSTS - Increased aluminum shipments and ongoing commissioning of new facilities contributed to higher operating losses, with normal startup issues impacting costs

Company press release: ID:nPn8vmjsza

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$5.20 bln
$5.10 bln (8 Analysts)
Q1 EPS
Miss
$2.78
$2.79 (9 Analysts)
Q1 Net Income
$400.11 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the iron & steel peer group is "buy"

Wall Street's median 12-month price target for Steel Dynamics Inc is $192.50, about 3.9% below its April 17 closing price of $200.32

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)