Steel Dynamics Reports Q1 Earnings: Revenue Beat, EPS Beat, Improving Demand Drives 'Solid' Steel Consumption Forecast

Steel Dynamics Inc STLD reported first-quarter financial results after the market close on Tuesday. Here’s a look at the key details from the print.

• Q1 Revenue: $4.37 billion, versus estimates of $4.2 billion

• Q1 EPS: $1.44, versus estimates of $1.38

Steel Dynamics shipped 3.5 million tons of steel during the first quarter and generated $230 million of operating income from its steel operations. The company reported $153 million in cash flow from operations, which was reduced by annual companywide retirement profit-sharing distributions of $165 million.

The company’s average external product selling price for steel operations decreased $13 sequentially to $998 per ton. Steel Dynamics noted that flat-rolled steel pricing rebounded from recent lows. Steel demand in the quarter was led by the energy, non-residential construction, automotive and industrial sectors.

Steel Dynamics repurchased $250 million worth of its common stock in the quarter and ended the period with total liquidity of $2.6 billion.

“Underlying steel demand improved in the first quarter as customer orders rebounded and backlogs increased throughout the quarter at our steel and steel fabrication operations. Steel prices improved throughout the quarter from the lows seen in the second half of 2024 as trade actions have seen imports decline from recent highs,” said Mark Millett, chairman and CEO of Steel Dynamics. 

“We should see the benefit from these higher steel prices in the coming months, as lagging flat-rolled steel contracts roll. In combination with our ongoing value-added flat-rolled steel and aluminum expansion initiatives, there are firm drivers in place for our continued growth.”

Outlook: Steel Dynamics expects domestic steel consumption to be “solid” throughout 2025 and in the coming years. The company noted that it has seen some “uncertainty” from customers related to recent trade tensions.

Despite the uncertainty from customers, Steel Dynamics expects demand for lower-carbon emission, U.S.-produced steel products combined with lower imports to support steel pricing and demand.

STLD Price Action: Steel Dynamics shares closed Tuesday up 3.38% at $117.39; after-hours, shares were up 1.80% at $119.50 at the time of publication, per Benzinga Pro.

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