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11:00
Jul 21 ◎

STLD FY2026 Q2 Watch

Steel Dynamics, Inc. (STLD) FY2026 Q2 Earnings Call

STLD ▾

Mark Millett

Management is highly optimistic on near-term performance driven by steel pricing improvements, strong fabrication backlogs, and rapid ramp of the aluminum mill, with confidence that recent growth projects will add over $1.4 billion in through-cycle EBITDA.

"We expect volume of operations to increase sharply in the second half of 26 and continue improving through 2027 as startup costs subside, utilization and yields improve, and scrap content increases."

STLD WATCH

HIGH

11:00
Apr 21 ◎

STLD FY2026 Q1 Watch

Steel Dynamics, Inc. (STLD) FY2026 Q1 Earnings Call

ILMN NUE BSL ▾

Teresa Wagler

Illumina likely a customer or partner in aluminum applications; positive sentiment suggests strong relationship.

"We were with the Illumina management team last week, and things are going incredibly well."

ILMN WATCH

Mark Millett

Management acknowledges Nucor's plate capacity as sufficient, implying no current interest from STLD in plate expansion.

"I think, with Nucor's entry there, I think that the plate market is well served."

NUE WATCH

Mark Millett

BlueScope rejected STLD's acquisition approach, indicating no near-term deal; STLD may seek other growth avenues.

"We presented what we consider a best and final sort of joint offer to I believe it was absolutely full and fair, and that was back in February. As you have seen, that best and final offer was summarily rejected, and there has been no"

BSL WATCH

HIGH

11:00
Jan 26 ◎

STLD FY2025 Q4 Watch

Steel Dynamics, Inc. (STLD) FY2025 Q4 Earnings Call

BSL SVW ▾

Mark Millett

Management's criticism of BlueScope's North American strategy and asset underperformance implies structural weakness, reducing BlueScope's standalone earnings power and justifying a lower valuation.

"We would suggest the North American Blue Scope strategy isn't working."

BSL WATCH

Mark Millett

SGH is co-bidding with STLD for BlueScope, suggesting alignment in deal strategy and potential shared value creation.

"together with our Australian partner, SGH."

SVW WATCH

HIGH

11:00
Oct 21 ◎

STLD FY2025 Q3 Watch

Steel Dynamics, Inc. (STLD) FY2025 Q3 Earnings Call

VOW3 STLD NUE X CLF ▾

Barry Schneider

Strengthens Steel Dynamics' relationship with a major automaker; implies product and service quality recognition, likely supporting future volume growth.

"We received an outstanding award from Volkswagen in the second quarter, which was really a surprise, and we were absolutely thankful to receive that."

VOW3 WATCH

Mark Millett

Management is confident about improving steel pricing into 2026, driven by trade actions, low inventories, and reshoring, while aluminum ramp is on track for near-term breakeven.

"We remain extremely optimistic concerning steel demand and pricing dynamics for the domestic producers in the coming years."

STLD WATCH

Barry Schneider

Coated flat-rolled steel import overhang from early 2025 has largely cleared; management expects coated steel prices to improve into 2026 as imports taper after ITC ruling. — Easing import pressure and positive trade rulings support domestic coated steel pricing and margins for NUE, X, and other producers through early 2026.

"We do believe that prices have bottomed out and will improve as we head into 2026."

NUE WATCH X WATCH

Barry Schneider

Sinton flat-rolled mill is ramping API pipe grades, high-strength steel, and automotive qualifications; record shipments in Q3 suggest the facility is achieving operational stability faster than typical greenfield mills. — Sinton's growing product breadth and volume threaten legacy producers' market share in high-value segments and raises the bar for new-entrant EAF mills.

"Meaningful progress has been made on unique high-quality API pipe grades, high-strength grade 100-110, pressure vessel quality, and OEM qualification packages for our automotive customers."

CLF WATCH

HIGH

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