Steel Dynamics Posts Strong Q1, Shares Rally

Steel Dynamics Inc. beat analyst expectations for first quarter earnings, reporting adjusted earnings of $1.44 per share and revenue of $4.37 billion. The company achieved record steel shipments of 3.5 million tons and a 16% sequential increase in operating income, driven by improved steel prices. Despite a year-over-year decline in profit, CEO Mark Millett cited increased customer orders, backlogs, and a positive long-term outlook for domestic steel demand. Shares rallied over 3% after the earnings release but remain more than 24% below their 52-week high. Steel Dynamics continued its share repurchase program and maintained strong liquidity, signaling confidence in its financial health. Recent trade actions have caused some customer uncertainty, but the company expects reduced imports and demand for low-carbon, U.S.-produced steel to benefit future results.