Higher steel prices and strong demand drove sequential gains, with adjusted EBITDA rising to $921 million in Q2 2026.
Steel Dynamics reported record steel shipments of 3.7 million tons in Q2 2026, lifting adjusted EBITDA to $921 million and net income to $534 million. Higher realized steel prices and solid demand across key markets drove the sequential improvement.
The company’s steel mills operated at 90% utilization, while its fabrication backlog surged 45% year over year. Aluminum shipments more than doubled quarter over quarter, with management expecting the platform to turn profitable in the second half of 2026.
Executives highlighted operational milestones at the Sinton steel platform and ongoing aluminum capacity expansion during the earnings call.