Steel Dynamics Q3 2024 profit falls: net income $318 million, $2.05 per diluted share
Steel Dynamics reported third quarter 2024 net sales of $4.3 billion and net income of $318 million, or $2.05 per diluted share, down from $577 million, or $3.47 per share, a year earlier. The company said lower average realized steel pricing drove the decline and expects steel pricing to recover in 2025, though it gave no numeric guidance.
Key points
- Net sales were $4.3 billion, versus $4.6 billion in the third quarter of 2023 and $4.6 billion in the second quarter of 2024.
- Operating income was $395 million, versus $734 million in the third quarter of 2023.
- Cash flow from operations was $760 million, and share repurchases totaled $310 million, or 1.6 percent of outstanding shares.
- Management said it is constructive on 2025 steel market conditions but did not provide quantitative guidance.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:10 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 17, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.