Form 8-K
8-K — STEEL DYNAMICS INC
Accession: 0001104659-26-045938
Filed: 2026-04-21
Period: 2026-04-20
CIK: 0001022671
SIC: 3312 (STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS))
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — tm2612296d1_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (tm2612296d1_ex99-1.htm)
GRAPHIC (tm2612296d1_ex99-1imag001.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K — FORM 8-K
8-K (Primary)
Filename: tm2612296d1_8k.htm · Sequence: 1
false
0001022671
0001022671
2026-04-20
2026-04-20
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, DC
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
April 20, 2026
STEEL
DYNAMICS, INC.
(Exact name of registrant as specified in its
charter)
Indiana
0-21719
35-1929476
(State
or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS
Employer
Identification No.)
7575
West Jefferson Blvd, Fort Wayne,
Indiana 46804
(Address of principal executive offices) (Zip
Code)
Registrant’s telephone number, including
area code: 260-969-3500
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common
Stock voting, $0.0025 par value
STLD
NASDAQ
Global Select Market
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 2.02. Results of Operations and Financial
Condition
On April 20, 2026, Steel Dynamics, Inc.
issued a press release titled “Steel Dynamics Reports First Quarter 2026 Results.” A copy of that press release is attached
hereto as Exhibit 99.1.
The information contained in Exhibit 99.1 is furnished under this
Item 2.02 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended,
or incorporated by reference in any filing thereunder or under the Securities Act of 1933, as amended, except as may be expressly set
forth by specific reference in any such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
The following exhibit is furnished with this report:
Exhibit Number
Description
99.1
A press release dated April 20, 2026, titled “Steel Dynamics
Reports First Quarter 2026 Results.”
104
Cover Page Interactive Data File – the cover page interactive
data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this Report to be signed on its behalf by the undersigned hereto duly authorized.
STEEL DYNAMICS, INC.
/s/
Theresa E. Wagler
Date: April 21, 2026
By:
Theresa E. Wagler
Title:
Executive Vice President and Chief Financial Officer
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: tm2612296d1_ex99-1.htm · Sequence: 2
Exhibit 99.1
Press Release
April 20, 2026
7575 W. Jefferson Blvd.
Fort Wayne, IN 46804
Steel Dynamics
Reports First Quarter 2026 Results
FORT WAYNE, INDIANA, April 20, 2026 / PRNewswire /
First Quarter 2026 Performance Highlights:
§ Record
steel shipments of 3.6 million tons
§ Continued
commissioning and increased production from aluminum flat rolled sheet operations
§ Net
sales of $5.2 billion, operating income of $538 million, and net income of $403 million
§ Adjusted
EBITDA of $700 million and cash flow from operations of $148 million, which was reduced by
the annual companywide retirement profit-sharing distribution of $120 million
§ First
quarter 2026 cash dividend increase of six percent
Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced first quarter
2026 financial results. The company reported first quarter 2026 net sales of $5.2 billion and net income of $403 million, or $2.78 per
diluted share. Comparatively, the company’s sequential fourth quarter 2025 net income was $266 million, or $1.82 per diluted share
and prior year first quarter net income was $217 million, or $1.44 per diluted share.
“The teams executed well, delivering a strong first quarter 2026
performance across all of our platforms, with operating income increasing $228 million, or 73 percent,” said Mark D. Millett, Chairman
and Chief Executive Officer. “The improvement in earnings was driven by record steel shipments combined with higher steel prices.
Our three-year after-tax return-on-invested capital of 13 percent is a testament to our ongoing high-return capital allocation execution.
We are growing, returning capital to shareholders, and maintaining strong returns with best-in-class performance compared to domestic
manufacturers.
“Underlying
steel demand strengthened during the first quarter 2026, as customer orders rebounded and backlogs increased across our steel and steel
fabrication operations,” said Millett. “Steel prices continued to improve, and lead times extended. Additionally, value-added
flat rolled steel margins expanded from fourth quarter 2025 lows. We are seeing an improved steel market environment, supported by domestic
trade actions, manufacturing onshoring, infrastructure program funding, and the increasing regionalization of supply chains in the United
States. Long product steel demand remains very strong, especially for structural steel and railroad rail. Looking ahead, we expect to
benefit from strong demand across our platforms.
“The aluminum team is continuing with the successful commissioning
and startup of our Columbus, Mississippi aluminum flat rolled products mill,” continued Millett. “The teams successfully produced
finished products for the industrial and beverage can sectors, receiving product qualifications from numerous can sheet consumers and
additional qualifications are ongoing. They also produced and received qualifications for aluminum hot band for use in automotive applications
and are currently in the process of qualifying automotive quality finished products from our first recently operational continuous anneal
and solution heat treat (CASH) line. Alongside our additional investments throughout the company, aluminum provides an exciting avenue
for our ongoing growth.”
First Quarter 2026 Comments
First quarter
2026 operating income for the company’s steel operations was $557 million, or 73 percent higher than sequential fourth quarter results,
due to record shipments and metal spread expansion across the platform, as steel pricing increased more than ferrous scrap costs. The
first quarter 2026 average external product selling price for the company’s steel operations increased $86 sequentially to $1,193
per ton. The average ferrous scrap cost per ton melted at the company’s steel mills increased $22 sequentially to $396 per ton.
The energy, non-residential construction, automotive, and industrial sectors led steel demand in the quarter. Flat rolled steel
pricing has rebounded from the recent lows experienced in the second half 2025, and steel producer lead times are at strong levels.
Compared to sequential fourth quarter results,
first quarter 2026 operating income from the company’s metals recycling operations increased 155 percent to $47 million, driven
by higher ferrous and nonferrous average selling values. Shipments were marginally lower, as scrap flows were negatively impacted by winter
weather conditions in portions of January and February.
The company’s steel fabrication operations achieved operating
income of $90 million in the first quarter 2026, steady with fourth quarter sequential results, as higher shipments were offset by metal
spread compression primarily related to increased steel raw material input costs. Customer order activity has significantly increased
since the end of 2025, with the customer order backlog over 38 percent higher than a year ago and extending through the third quarter
and into October 2026. Improved demand was supported largely by the commercial, data center, manufacturing, warehouse, and healthcare
sectors. Further, the accelerated announcements related to meaningful domestic investments in manufacturing and increased onshoring, coupled
with the U.S. infrastructure program, are expected to positively impact demand for not only steel joist and deck products, but also for
flat rolled and long product steel.
First quarter 2026 operating losses associated with the continued construction
and startup of the company’s aluminum operations in the U.S. and Mexico were $65 million, or $17 million higher than fourth quarter
sequential results. Aluminum flat rolled finished product shipments increased from 14,600 metric tons in the sequential fourth quarter
to 22,500 metric tons in the first quarter 2026. Operating costs were significantly higher in January, as the team experienced normal
startup issues, necessitating a temporary pause in operations and the write-off of some inventory. The issues were resolved and the company
believes both shipments and earnings will increase sharply in the second quarter 2026. Demand for aluminum flat rolled products across
the company’s consumer sectors remains strong, with the supply deficit growing.
The
company generated cash flow from operations of $148 million during the first quarter 2026, after funding the annual companywide retirement
profit-sharing distribution of $120 million. Working capital (excluding profit-sharing and income taxes) increased $413 million in the
first quarter, as product pricing and demand improved across the business and the aluminum operations continued to ramp. The company also
invested $138 million in capital investments, paid cash dividends of $72 million, and repurchased $115 million of its outstanding common
stock, while maintaining strong liquidity of $2.0 billion as of March 31, 2026.
Outlook
“We remain constructive that market conditions are in place for
domestic steel and aluminum consumption to be strong through 2026 and into the following years,” said Millett. “Customer optimism,
order entry activity, and pricing have been improving across our business. Additionally, discussions with our customers further underscore
the growing importance of lower-carbon, domestically produced steel and aluminum products, positioning our businesses for a sustainable
long-term competitive advantage. As unfair trade practices diminish, policy clarity improves, and U.S. manufacturing continues to expand,
we believe a favorable market environment will follow.
“The aluminum team continues to make progress commissioning the
company’s Columbus, Mississippi aluminum flat rolled products mill, as well as the San Luis Potosi, Mexico satellite recycled aluminum
slab center. Two of the three planned cold mills are ramping operations and producing prime products, with the third cold mill scheduled
to commission in the third quarter 2026. Additionally, the first of our two planned CASH lines to be used for the production of finished
automotive products is now operational and has produced qualification material for automotive customers. The second CASH line is also
expected to commission in the third quarter 2026.
“We have deliberately aligned our growth strategy with our customers’
developing needs, prioritizing product excellence, supply-chain efficiency, and sustainability. Building on our strong positions in steel,
we are expanding into high recycled-content aluminum to serve adjacent markets where customer demand is accelerating. This opportunity
spans the counter-cyclical beverage can and packaging segment and extends to automotive, industrial, and construction applications. Backed
by a performance-based culture and a proven ability to develop and operate cost-efficient, high-margin mills, we are well positioned to
deliver attractive long-term value through this expansion.
“Our commitment is to the health and safety of our teams, families,
and communities, while meeting the current and future needs of our customers. Our culture and business model continues to positively differentiate
our performance from the rest of the industry. We continue to focus on delivering superior value to our team members, customers, and shareholders,”
concluded Millett.
Conference Call and Webcast
Steel Dynamics, Inc. will hold a conference call to discuss first
quarter 2026 operating and financial results on Tuesday, April 21, 2026, at 11:00 a.m. Eastern Daylight Time. You may access
the call and find dial-in information on the Investors section of the company’s website at www.steeldynamics.com. A replay
of the call will be available on our website until 11:59 p.m. Eastern Daylight Time on April 30, 2026.
About Steel Dynamics, Inc.
Steel Dynamics is a leading industrial metals solutions company, with
facilities located throughout the United States, and in Mexico. The company operates using a circular manufacturing model, producing lower-carbon-emission,
quality products with recycled scrap as the primary input. Steel Dynamics is one of the largest domestic steel producers and metal recyclers
in North America, combined with a meaningful downstream steel fabrication platform. The company has also recently added aluminum operations,
further diversifying its product offerings to supply aluminum flat rolled products with higher recycled content to the countercyclical
sustainable beverage can industry, in addition to the automotive and industrial sectors. Steel Dynamics is committed to operating with
the highest integrity and to being the safest, most efficient producer of high-quality, broadly diversified, value-added metal products.
Note Regarding Financial Metrics
The company believes that after-tax return-on-invested capital (After-tax
ROIC) provides an indication of the effectiveness of the company’s invested capital and is calculated as follows:
After-tax ROIC =
Net Income Attributable to Steel Dynamics, Inc.
(Quarterly Average Current Maturities of Long-term Debt + Long-term Debt + Total Equity)
Note Regarding Non-GAAP Financial Measures
The company reports its financial results in accordance with U.S. generally
accepted accounting principles (GAAP). Management believes that the non-GAAP financial measures EBITDA and Adjusted EBITDA provide additional
meaningful information regarding the company’s performance and financial strength. Non-GAAP financial measures should be viewed
in addition to and not as an alternative for the company’s reported results prepared in accordance with GAAP. In addition, not all
companies use identical calculations for EBITDA or Adjusted EBITDA; therefore, EBITDA and Adjusted EBITDA included in this release may
not be comparable to similarly titled measures of other companies.
Forward-Looking Statements
This press release contains some predictive statements about future
events, including statements related to conditions in domestic or global economies, conditions in steel, aluminum, and recycled metals
marketplaces, Steel Dynamics' revenues, costs of purchased materials, future profitability and earnings, and the operation of new, existing
or planned facilities. These statements, which we generally precede or accompany by such typical conditional words as “anticipate”,
“intend”, “believe”, “estimate”, “plan”, “seek”, “project”, or
“expect”, or by the words “may”, “will”, or “should”, are intended to be made as “forward-looking”,
subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These
statements speak only as of this date and are based upon information and assumptions, which we consider reasonable as of this date, concerning
our businesses and the environments in which they operate. Such predictive statements are not guarantees of future performance, and we
undertake no duty to update or revise any such statements. Some factors that could cause such forward-looking statements to turn out differently
than anticipated include: (1) domestic and global economic factors; (2) global steelmaking overcapacity and imports of steel,
together with increased scrap prices; (3) the cyclical nature of the metals industries and the industries we serve; (4) volatility
and major fluctuations in prices and availability of scrap metal, scrap substitutes and supplies, and our potential inability to pass
higher costs on to our customers; (5) cost and availability of electricity, natural gas, oil, and other energy resources are subject
to volatile market conditions; (6) increased environmental, greenhouse gas emissions and sustainability considerations from our customers
and investors or related regulations; (7) compliance with and changes in environmental and remediation requirements; (8) significant
price and other forms of competition from other steel and aluminum producers, scrap processors and alternative materials; (9) availability
of an adequate source of supply of scrap for our metals recycling operations; (10) cybersecurity threats and risks to the security
of our sensitive data and information technology; (11) the implementation of our growth strategy; (12) our ability to retain, develop
and attract key personnel; (13) litigation and legal compliance; (14) unexpected equipment downtime or shutdowns; (15) difficulties in
the launch or production ramp-up of new products; (16) our aluminum operations depend on a core group of significant customers; (17) governmental
agencies may refuse to grant or renew some of our licenses and permits; (18) our existing debt agreements contain, and any future financing
agreements may contain, restrictive covenants that may limit our flexibility; and (19) the impacts of impairment charges.
More specifically, we refer you to our more detailed explanation of
these and other factors and risks that may cause such predictive statements to turn out differently, as set forth in our most recent Annual
Report on Form 10-K under the headings Special Note Regarding Forward-Looking Statements and Risk Factors, in our Quarterly Reports
on Form 10-Q, or in other reports which we file with the Securities and Exchange Commission. These reports are available publicly
on the Securities and Exchange Commission website, www.sec.gov, and on our website, www.steeldynamics.com under “Investors –
SEC Filings.”
Contact:
Investor Relations — +1.260.969.3500
Steel Dynamics, Inc.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(in thousands, except per share data)
Three Months Ended
Three Months
March 31,
Ended
2026
2025
Dec. 31, 2025
Net sales
$ 5,204,858
$ 4,369,195
$ 4,414,048
Costs of goods sold
4,441,635
3,882,651
3,884,757
Gross profit
763,223
486,544
529,291
Selling, general and administrative expenses
175,220
181,808
184,646
Profit sharing
42,198
22,695
27,196
Amortization of intangible assets
7,801
6,897
7,219
Operating income
538,004
275,144
310,230
Interest expense, net of capitalized interest
33,241
12,131
26,958
Other (income) expense, net
(8,450 )
(17,641 )
(27,333 )
Income before income taxes
513,213
280,654
310,605
Income tax expense
113,108
62,975
46,090
Net income
400,105
217,679
264,515
Net loss (income) attributable to noncontrolling interests
3,331
(528 )
1,518
Net income attributable to Steel Dynamics, Inc.
$ 403,436
$ 217,151
$ 266,033
Basic
earnings per share attributable to Steel Dynamics, Inc. stockholders
$ 2.79
$ 1.45
$ 1.83
Weighted average common shares outstanding
144,797
150,262
145,627
Diluted earnings per share
attributable to Steel Dynamics, Inc. stockholders, including the effect of assumed conversions when dilutive
$ 2.78
$ 1.44
$ 1.82
Weighted average common shares and
share equivalents outstanding
145,321
150,809
146,249
Dividends declared per share
$ 0.53
$ 0.50
$ 0.50
Steel Dynamics, Inc.
CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31,
December 31,
2026
2025
(unaudited)
Assets
Current assets
Cash and equivalents
$ 556,527
$ 769,878
Accounts receivable, net
2,056,434
1,682,660
Inventories
3,908,120
3,738,516
Other current assets
274,089
293,117
Total current assets
6,795,170
6,484,171
Property, plant and equipment, net
8,549,876
8,569,466
Intangible assets, net
323,489
331,290
Goodwill
477,471
477,471
Other assets
574,213
557,382
Total assets
$ 16,720,219
$ 16,419,780
Liabilities and Equity
Current liabilities
Accounts payable
$ 1,379,494
$ 1,231,358
Income taxes payable
135,202
67,315
Accrued expenses
633,899
788,926
Current maturities of long-term debt
22,124
34,655
Total current liabilities
2,170,719
2,122,254
Long-term debt
4,178,669
4,176,508
Deferred income taxes
1,042,980
1,004,375
Other liabilities
194,449
186,232
Total liabilities
7,586,817
7,489,369
Commitments and contingencies
Redeemable noncontrolling interests
141,226
141,226
Equity
Common stock
653
653
Treasury stock, at cost
(8,088,699 )
(7,980,549 )
Additional paid-in capital
1,237,939
1,248,634
Retained earnings
16,015,823
15,689,042
Accumulated other comprehensive loss
(858 )
(598 )
Total Steel Dynamics, Inc. equity
9,164,858
8,957,182
Noncontrolling interests
(172,682 )
(167,997 )
Total equity
8,992,176
8,789,185
Total liabilities and equity
$ 16,720,219
$ 16,419,780
Steel Dynamics, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
Three Months Ended
March 31,
2026
2025
Operating activities:
Net income
$ 400,105
$ 217,679
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
159,280
133,756
Equity-based compensation
17,451
17,040
Deferred income taxes
32,669
16,249
Other adjustments
(2,293 )
(4,195 )
Changes in certain assets and liabilities:
Accounts receivable
(373,774 )
(303,602 )
Inventories
(174,427 )
13,810
Other assets
21,001
(32,115 )
Accounts payable
156,905
248,600
Income taxes receivable/payable
74,432
42,815
Accrued expenses
(163,033 )
(197,434 )
Net cash provided by operating activities
148,316
152,603
Investing activities:
Purchases of property, plant and equipment
(137,979 )
(305,506 )
Purchases of short-term investments
-
(10,000 )
Proceeds from maturities of short-term investments
-
137,811
Other investing activities
(1,087 )
(1,064 )
Net cash used in investing activities
(139,066 )
(178,759 )
Financing activities:
Issuance of current and long-term debt
599,469
1,405,943
Repayment of current and long-term debt
(612,359 )
(432,527 )
Dividends paid
(72,470 )
(69,514 )
Purchase of treasury stock
(115,087 )
(250,138 )
Other financing activities
(22,312 )
(30,469 )
Net cash (used in) provided by financing activities
(222,759 )
623,295
Increase (decrease) in cash, cash equivalents, and restricted cash
(213,509 )
597,139
Cash, cash equivalents, and restricted cash at beginning of period
775,272
595,010
Cash, cash equivalents, and restricted cash at end of period
$ 561,763
$ 1,192,149
Supplemental disclosure information:
Cash paid for interest
$ 26,000
$ 28,477
Cash paid for income taxes, net
$ 4,491
$ 3,717
Steel Dynamics, Inc.
SUPPLEMENTAL INFORMATION (UNAUDITED)
(dollars in thousands)
First Quarter
2026
2025
Q4 2025
External Net Sales
Steel
$ 3,538,743
$ 3,067,016
$ 3,141,366
Steel Fabrication
355,433
352,307
347,252
Metals Recycling
593,183
534,895
463,039
Aluminum
227,393
66,576
157,747
Other
490,106
348,401
304,644
Consolidated Net Sales
$ 5,204,858
$ 4,369,195
$ 4,414,048
Operating Income (Loss)
Steel
$ 556,564
$ 229,963
$ 322,337
Steel Fabrication
89,514
116,745
90,545
Metals Recycling
47,467
25,710
18,642
Aluminum
(64,592 )
(28,735 )
(47,098 )
628,953
343,683
384,426
Non-cash amortization of intangible assets
(7,801 )
(6,897 )
(7,219 )
Profit sharing expense
(42,198 )
(22,695 )
(27,196 )
Non-segment operations
(40,950 )
(38,947 )
(39,781 )
Consolidated Operating Income
$ 538,004
$ 275,144
$ 310,230
Adjusted EBITDA
Net income
$ 400,105
$ 217,679
$ 264,515
Income taxes
113,108
62,975
46,090
Net interest expense
26,053
2,316
17,135
Depreciation
149,194
125,122
136,467
Amortization of intangible assets
7,801
6,897
7,219
EBITDA
696,261
414,989
471,426
Non-cash adjustments
Unrealized (gains) losses on derivatives and currency
remeasurement
(11,594 )
19,153
9,482
Equity-based compensation
15,230
14,181
24,513
Adjusted EBITDA
$ 699,897
$ 448,323
$ 505,421
Other Operating Information
Steel
Average external sales price (Per ton)
$ 1,193
$ 998
$ 1,107
Average ferrous cost (Per ton Melted)
$ 396
$ 386
$ 374
Flat Roll shipments
Butler, Columbus, and Sinton
2,011,443
2,119,187
1,902,346
Steel Processing divisions *
686,440
492,627
556,336
Long Product shipments
Structural and Rail Division
490,971
437,398
445,978
Engineered Bar Products Division
194,022
191,658
170,539
Roanoke Bar Division
167,837
144,186
139,287
Steel of West Virginia
88,155
96,483
89,648
Total Shipments (Tons)
3,638,868
3,481,539
3,304,134
External Shipments (Tons)
2,966,124
3,071,735
2,837,126
Steel Mill Production (Tons)
3,039,367
3,021,593
2,838,233
Metals Recycling
Nonferrous shipments (000's of pounds)
197,385
233,080
195,003
Ferrous shipments (Gross tons)
1,473,457
1,452,432
1,521,629
External ferrous shipments (Gross tons)
553,367
557,618
507,102
Steel Fabrication
Average sales price (Per ton)
$ 2,478
$ 2,599
$ 2,509
Shipments (Tons)
143,422
135,581
138,375
* Includes Heartland, The Techs, United Steel Supply,
and New Process Steel (beginning December 1, 2025) operations
GRAPHIC
GRAPHIC
Filename: tm2612296d1_ex99-1imag001.jpg · Sequence: 6
Binary file (3191 bytes)
Download tm2612296d1_ex99-1imag001.jpg
XML — IDEA: XBRL DOCUMENT
XML
Filename: R1.htm · Sequence: 8
v3.26.1
Cover
Apr. 20, 2026
Cover [Abstract]
Document Type
8-K
Amendment Flag
false
Document Period End Date
Apr. 20, 2026
Entity File Number
0-21719
Entity Registrant Name
STEEL
DYNAMICS, INC.
Entity Central Index Key
0001022671
Entity Tax Identification Number
35-1929476
Entity Incorporation, State or Country Code
IN
Entity Address, Address Line One
7575
West Jefferson Blvd
Entity Address, City or Town
Fort Wayne
Entity Address, State or Province
IN
Entity Address, Postal Zip Code
46804
City Area Code
260
Local Phone Number
969-3500
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Title of 12(b) Security
Common
Stock voting, $0.0025 par value
Trading Symbol
STLD
Security Exchange Name
NASDAQ
Entity Emerging Growth Company
false
X
- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details
Name:
dei_AmendmentFlag
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Area code of city
+ References
No definition available.
+ Details
Name:
dei_CityAreaCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Cover page.
+ References
No definition available.
+ Details
Name:
dei_CoverAbstract
Namespace Prefix:
dei_
Data Type:
xbrli:stringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
dei_
Data Type:
dei:stateOrProvinceItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration