Story
Steel Dynamics Stock Falls After Q3 Earnings Guidance Misses Analyst Estimates
Steel Dynamics Inc. (NASDAQ: STLD) shares fell 3.4% in after-hours trading Thursday after the steel producer issued third-quarter earnings guidance that came in below Wall Street forecasts. The company's projection missed the consensus estimate, overshadowing an otherwise strong outlook that points to sequential and year-over-year profit growth.
Weaker-Than-Expected Forecast
Steel Dynamics announced it anticipates third-quarter 2026 earnings in a range of $5.34 to $5.38 per diluted share. According to the source, this projection falls short of the analyst consensus of $5.60 per share.
Despite missing the Wall Street target, the guided range represents a substantial increase from the $3.69 per diluted share earned in the second quarter of 2026 and the $2.74 per share reported in the third quarter of the prior year.
Mixed Outlook Across Business Segments
The company's guidance reflects varied performance across its key operations. Profitability from its core steel operations is expected to be higher than in the second quarter, driven by metal margin expansion on the back of higher realized selling prices and lower scrap costs.
AdIn contrast, the metals recycling segment is expected to report lower earnings due to compressed metal spreads and slightly lower shipments. The steel fabrication business is projected to see modest improvement, supported by a strong backlog that is nearly 50% higher than a year ago. Meanwhile, the aluminum operations are expected to improve meaningfully as a new mill increases shipments.
Capital Allocation and Upcoming Report
Steel Dynamics also disclosed that it had repurchased $261 million of its common stock during the third quarter, equivalent to just under 1% of its shares outstanding. This action signals a continued commitment to returning capital to shareholders.
The company plans to release its full third-quarter 2026 financial results after the market closes on October 19, 2026.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.