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Steel Dynamics (STLD) guidance and outlook
Steel Dynamics' 10-Q filed Oct 23, 2026 makes 12 forward-looking statements, 3 of them new and 1 no longer said since the filing before.
Guidance and outlook
Forward-looking statements, 10-Q filed Oct 23, 2026
- Interest expense consists of interest associated with our senior credit facilities and other debt, net of interest costs that are required to be capitalized during the construction period of certain capital investment projects.
- new · In addition, accelerating announcements of significant domestic manufacturing investments and increased reshoring activity, coupled with funding from the U.S. infrastructure program, are expected to provide meaningful support for demand across our product portfolio, including steel joists and deck products.
- new · We expect aluminum volumes and profitability to improve in the fourth quarter 2026 and throughout 2027, as startup costs subside, utilization and yields improve, and scrap content increases.
- new · Underlying demand for aluminum flat rolled products across our targeted consumer sectors remains strong and is forecast to continue to grow.
- Our short-term and long-term liquidity needs arise primarily from working capital requirements, capital expenditures, including expansion projects, principal and interest payments related to our outstanding indebtedness, dividends to our shareholders, potential stock repurchases and acquisitions or investments.
- We have met and intend to continue to meet these liquidity requirements primarily with available cash and cash provided by operations, long-term borrowings, and we also have availability under our unsecured Revolver.
- We were in compliance with these covenants at September 30, 2026, and we anticipate we will continue to be in compliance during the next twelve months.
- updated · Our liquidity of $2.4 billion and anticipated future operating cash flow generation is sufficient to provide for our planned capital requirements during the next twelve months.
- The determination to pay cash dividends in the future is at the discretion of our board of directors, after taking into account various factors provided by executive management, including our financial condition, results of operations, outstanding indebtedness, current and anticipated cash needs and growth plans.
- Under the share repurchase programs, purchases take place as and when we determine in open market or private transactions made based upon the market price of our common stock, the nature of other investment opportunities or growth projects, our cash flows from operations, and general economic conditions.
- In addition, we cannot assure that our operating results, cash flows, access to credit markets and capital resources will be sufficient for repayment of our indebtedness in the future.
- We believe that based upon current levels of operations and anticipated growth, cash flows from operations, together with other available sources of funds, including borrowings under our Facility, if necessary, will be adequate for the next twelve months for making required payments of principal and interest on our indebtedness, funding working capital requirements, and funding anticipated capital expenditures.
Steel Dynamics' latest quarter
Steel Dynamics, Q3 2026: revenue $6.5B (+35% year over year), operating margin 15.5%, net earnings $756M, operating cash flow $846M. The chart follows the revenue to costs, profit and cash.
Questions
What does Steel Dynamics expect?
In addition, accelerating announcements of significant domestic manufacturing investments and increased reshoring activity, coupled with funding from the U.S. infrastructure program, are expected to provide meaningful support for demand across our product portfolio, including steel joists and deck products. We expect aluminum volumes and profitability to improve in the fourth quarter 2026 and throughout 2027, as startup costs subside, utilization and yields improve, and scrap content increases. Underlying demand for aluminum flat rolled products across our targeted consumer sectors remains str
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.