STLD

Steel Dynamics reported Q3 2026 revenue of $6.51 billion, up 34.8% year-over-year, beating consensus estimates by 6.6%. However, EPS of $5.26 missed expectations of $5.42 by 2.95%.

The company showed strong performance across most operational metrics, with significant growth in steel fabrication, metals recycling, and other segments. The stock holds a Zacks Rank #3 (Hold) rating.

Cleveland-Cliffs stock surged 16.34% after reporting stronger Q3 results with adjusted EBITDA more than doubling to $612 million and raising its 2027 EBITDA outlook to exceed $4 billion. The strong performance boosted other domestic steel stocks, though Steel Dynamics fell after earnings missed estimates despite record shipments.

Steel Dynamics reported Q3 2026 earnings of $5.26 per share, missing the consensus estimate of $5.42, though revenues of $6.51 billion exceeded expectations by 6.60%. The stock has gained 42% year-to-date, outperforming the S&P 500's 11.9% gain.

With a Zacks Rank #3 (Hold) rating, the stock is expected to perform in line with the market. Peer Nucor is expected to report results on October 26 with anticipated earnings of $5.71 per share, representing 117.1% year-over-year growth.