U.S. steelmaker Steel Dynamics shipped a record 3.78 million net tons of steel in the third quarter of 2026, up 1.2% from the previous quarter and 4.7% year over year. Net income rose to $756 million.
Net income increased 41.5% quarter over quarter and 87.3% compared with the third quarter of last year. Revenue reached $6.51 billion, operating income was $1.01 billion and adjusted EBITDA totaled $1.19 billion.
The average external selling price for steel rose $102 from the previous quarter to $1,400 per net ton. The average cost of ferrous scrap melted at the company’s steel mills fell $8 to $404 per net ton. Energy, non-residential construction, automotive and industrial sectors drove demand.
“We expect steel and aluminum consumption to benefit from continued investment in infrastructure, manufacturing, energy and data centers, along with improving broader economic activity,” Steel Dynamics CEO Mark Millett said. He added that these industries should also benefit from a supportive U.S. trade environment and reduced unfairly traded imports.
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