Steel Dynamics Hits Record Steel Shipments and Adjusted EBITDA in Q2 2026
Steel Dynamics, a leading steel producer and metals recycler, has reported strong financial and operational performance for the second quarter of 2026. The company achieved record quarterly steel shipments of 3.7 million tons, adjusted EBITDA of $921 million, and made significant progress across its aluminum and Sinton platforms.
Mark Millett, Chairman and Chief Executive Officer of Steel Dynamics, highlighted the company's impressive performance during the earnings call. "Our teams achieved a strong second quarter financial and operational performance," he said. "The quarter highlights included record quarterly steel shipments of 3.7 million tons, adjusted EBITDA of $921 million, and we achieved meaningful milestones across our aluminum and Sinton platforms."
The company's steel operations generated operating income of $721 million in the second quarter, a 30% sequential increase driven by higher realized steel pricing and record steel shipments. Average selling prices per ton increased $105, and value-added spreads to hot band improved $70 per ton from the lows experienced in the fourth quarter of 2025.
Theresa Wagler, Executive Vice President and Chief Financial Officer, provided further color on the company's financial performance. "Our net income was $534 million, or $3.69 per diluted share, with adjusted EBITDA of $921 million," she said. "Second quarter 2026 revenues were $6.1 billion, and operating income was $700 million, higher than sequential first quarter results."
The company's commitment to safety remains a top priority. Mark Millett acknowledged the tragic loss of Elijah Jones from New Process Steel in April, emphasizing the importance of maintaining a world-class safety culture. "Our team's unwavering dedication to our take controller safety philosophy must continue to strengthen even further," he said.
Despite challenges, Steel Dynamics remains resolute and committed to achieving a zero-incident environment. The company is continually inspired by its team members' commitment to one another, operating as a family and striving for continuous improvement every day.
