Every material Form 8-K Steel Dynamics filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Steel Dynamics reported third quarter 2026 net sales of $6.5 billion and net income of $756 million, or $5.26 per diluted share, up from $404 million, or $2.74 per share, a year earlier and $534 million, or $3.69 per share, in the second quarter. Management attributed the gains mainly to higher steel prices and record steel shipments, while the aluminum operations still posted an operating loss.
Net sales of $6.5 billion versus $4.8 billion in Q3 2025; net income of $756 million versus $404 million a year earlier.
Record steel shipments of 3.8 million tons; steel operations operating income of $1.0 billion.
Aluminum operating loss of $26 million, a 21 percent improvement from the second quarter; management expects improvement in Q4 2026 and throughout 2027.
Share repurchases of $276 million in the quarter; liquidity of $2.4 billion as of September 30, 2026.
Steel Dynamics announced six leadership promotions and role changes in an October 19, 2026 press release filed as Exhibit 99.1. The filing identifies Theresa E. Wagler as incoming President and Chief Executive Officer and Rick Poinsatte as incoming Chief Financial Officer, which signals a change in top executive roles for shareholders to note.
Three Senior Vice Presidents promoted effective October 1, 2026: Chad Bickford, Jeff Hansen and Tommy Scruggs
Daniel Keown named Senior Vice President over three flat rolled steel production facilities, and Yury Krotov named Vice President over four long product steel mills, both effective November 1, 2026
Dominic Freiburger named Vice President and Treasurer, reporting to Rick Poinsatte, incoming CFO
Theresa E. Wagler is described as incoming President and Chief Executive Officer
Steel Dynamics said CEO Mark Millett will retire as chief executive on January 1, 2027, and become Executive Chairman. CFO Theresa Wagler will succeed him as President and CEO on that date, and Richard Poinsatte will become CFO. The filing also lists operating and technology role changes effective September 1, 2026, and the board expanded from seven to eight members.
Theresa Wagler, EVP and CFO since 2007, becomes President and CEO effective January 1, 2027, and joins the board immediately
Mark Millett retires as CEO effective January 1, 2027, and becomes Executive Chairman
Richard Poinsatte becomes EVP and CFO effective January 1, 2027
Barry Schneider becomes EVP and Chief Technology Officer effective September 1, 2026
Steel Dynamics reported second quarter 2026 net sales of $6.1 billion and net income of $534 million, or $3.69 per diluted share, compared with $299 million, or $2.01 per diluted share, a year earlier. Results were reduced by a $16 million non-cash asset impairment charge tied to relocating a planned aluminum recycled slab center from Arizona to Mississippi. The filing gives no numeric guidance; management said steel pricing and demand improved and expects aluminum volumes and profitability to rise in the second half of 2026 and in 2027.
Net sales were $6.1 billion, up from $4.6 billion in the second quarter of 2025, and operating income was $700 million, up from $383 million.
Steel operating income was $721 million, 30 percent higher than the first quarter of 2026, on higher average selling prices of $1,298 per ton.
Aluminum operating losses were $33 million, a 48 percent improvement from the first quarter of 2026.
The company repurchased $200 million of common stock and reported cash flow from operations of $428 million in the quarter.
Steel Dynamics reported first quarter 2026 net sales of $5.2 billion and net income of $403 million, or $2.78 per diluted share, up from $217 million, or $1.44 per share, a year earlier. The company cited record steel shipments and higher steel prices, and said it raised its quarterly cash dividend by six percent, while its new aluminum operations still posted an operating loss of $65 million.
Operating income was $538 million, up from $275 million in the first quarter of 2025.
Adjusted EBITDA was $700 million, compared with $448 million a year earlier.
Cash flow from operations was $148 million after a $120 million annual companywide retirement profit-sharing distribution.
Record steel shipments of 3.6 million tons; aluminum operating losses were $65 million for the quarter.
Two Steel Dynamics board members, Richard P. Teets, Jr. and Gabriel L. Shaheen, told the board they will not stand for reelection and will leave at the May 6, 2026 annual meeting. The board will shrink from nine to seven members at that time, and the filing says the departures were not due to any disagreement with the company.
Richard P. Teets, Jr. and Gabriel L. Shaheen will retire from the board effective at the 2026 Annual Meeting on May 6, 2026.
Board size will be reduced from nine to seven members at the 2026 Annual Meeting.
The filing states neither director's decision resulted from a disagreement with the company on operations, policies or practices.
Chairman and CEO Mark D. Millett praised Teets as a co-founder and Shaheen for more than sixteen years of service.
Steel Dynamics reported fourth-quarter 2025 net income of $266 million, or $1.82 per diluted share, up from $1.36 a year earlier but down from $2.74 in the third quarter. For full-year 2025, net income fell to $1.2 billion, or $7.99 per diluted share, from $9.84 in 2024, as lower realized steel pricing reduced operating income. The company also repurchased $901 million of its stock in 2025, which reduces the share count for remaining shareholders.
Q4 2025 net income $266 million, $1.82 per diluted share, versus $207 million, $1.36 per share in Q4 2024
Q4 2025 net income was lower than the $404 million, or $2.74 per diluted share, reported for Q3 2025
Full-year 2025 net sales rose 3.6% to $18.2 billion, while operating income declined 24% to $1.5 billion
Share repurchases of $901 million in 2025, representing over four percent of outstanding shares
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Steel Dynamics filing is on SEC EDGAR ↗. 8-K briefs of other companies →