Steel Dynamics, Inc. issued earnings guidance for the fourth quarter of 2025, forecasting diluted earnings per share in the range of US$1.65 to US$1.69. This compares with earnings of US$2.74 per share in the third quarter of 2025 and US$1.36 per share in the fourth quarter of the prior year.

The company said fourth-quarter profitability from steel operations is expected to decline sequentially due to lower selling values and reduced volumes, reflecting seasonal demand and planned maintenance outages at its flat rolled steel mills. Extended maintenance outages reduced flat-rolled steel production by an estimated 140,000 to 150,000 tons.

Earnings from metals recycling and steel fabrication operations are also expected to be lower sequentially, primarily due to seasonal shipment declines. Meanwhile, Steel Dynamics reported progress at its aluminum facilities and said it repurchased about US$200 million of common stock during the quarter.