Steel Dynamics stock gained 2.57 percent on October 2
Published on 10/04/2026 at 20:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Steel Dynamics stock (ISIN US8581191009) gained 2.57 percent to USD 231.99 on NASDAQ on October 2, 2026, at 4:00 p.m. ET. The move followed third-quarter guidance issued on September 17, 2026, with diluted EPS forecast at USD 5.34 to USD 5.38, according to Steel Dynamics.
Guidance points to higher earnings
The Q3 EPS range stands above the companys USD 3.69 result in Q2 2026 and USD 2.74 in Q3 2025. Steel operations are expected to benefit from wider metal margins, record shipments, higher realized selling values and lower scrap costs, while metals recycling earnings are projected to decline from the prior quarter, according to Steel Dynamics.
The latest reported quarter also showed scale: Q2 2026 revenue was USD 6.09 billion, net income was USD 530.8 million and diluted EPS was USD 3.69. Operating cash flow reached USD 427.9 million in the quarter, based on the period ending June 30, 2026.
Backlog supports the fabrication outlook
Steel Dynamics said its fabrication backlog was 50 percent higher than the prior-year third-quarter level and extended through the first quarter of 2027. Demand cited by the company includes commercial construction, data centers, manufacturing and healthcare, while its Columbus, Mississippi aluminum mill is moving through commissioning.
The company had repurchased USD 261 million of common stock during Q3 2026 by September 17, 2026. That capital return sits beside an operating risk: the company expects lower metals recycling earnings because of weaker spreads and modestly lower shipments, according to Steel Dynamics.
Consensus target remains above the stock
MarketScreener listed an Outperform consensus from 14 analysts on September 11, 2026, with an average price target of USD 272.21. The same page showed Goldman Sachs raising its target from USD 300 to USD 301 while maintaining a Buy rating, according to MarketScreener.
Steel Dynamics plans to release third-quarter 2026 results after the market closes on October 19, 2026, followed by a conference call on October 20, 2026, at 11:00 a.m. ET, according to Steel Dynamics.
Stock remains below its yearly high
Steel Dynamics stock was last at USD 231.99 on NASDAQ on October 2, 2026, with a 52-week range of USD 140.87 to USD 288.74. Market capitalization stood at USD 33.3 billion on the same date, giving the upcoming earnings release a clear valuation checkpoint.
Steel Dynamics stock facts
- Company: Steel Dynamics, Inc.
- ISIN: US8581191009
- Ticker: STLD
- Trading venue: NASDAQ
- Price (as of October 2, 2026, 4:00 p.m. ET): USD 231.99
- Market capitalization: USD 33.3 billion (as of October 2, 2026)
- 52-week range: USD 140.87-288.74 (as of October 2, 2026)
- Sector / Industry: Materials / Steel
Upcoming dates for Steel Dynamics stock
- October 19, 2026: Third-quarter earnings release
- October 20, 2026: Earnings conference call at 11:00 a.m. ET
