Steel Dynamics Q3 net income rises to $404 million, or $2.74 per diluted share
Steel Dynamics reported third quarter 2025 net sales of $4.8 billion and net income of $404 million, up from $318 million a year earlier. Operating income rose to $508 million from $395 million, and the company repurchased $210 million of its stock. For the first nine months of 2025, net income fell to $920 million from $1.3 billion, and operating income declined 32 percent.
Key points
- Q3 2025 net income was $404 million, or $2.74 per diluted share, versus $318 million, or $2.05 per diluted share, in Q3 2024 and $299 million, or $2.01 per diluted share, in Q2 2025.
- Q3 2025 net sales were $4.8 billion, compared with $4.3 billion in Q3 2024, and operating income was $508 million.
- Cash flow from operations was $723 million, and the company repurchased $210 million of common stock in the quarter.
- For the nine months ended September 30, 2025, net income was $920 million, or $6.17 per diluted share, versus $1.3 billion, or $8.46 per diluted share, a year earlier.
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 21, 2025.
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.