Steel Dynamics (NASDAQ:STLD) has provided its earnings guidance for the fourth quarter of fiscal year 2025, forecasting a range of $1.65 to $1.69 per diluted share.
This represents a notable decline from the $2.74 per share earnings reported in the third quarter of 2025, but an increase over the $1.36 per share reported in Q4 2024.
The company cited several factors contributing to the expected earnings slowdown, including lower average selling values and reduced volumes driven by seasonal demand.
Additionally, planned maintenance outages, which reduced flat rolled steel production by an estimated 140,000 to 150,000 tons, have further pressured profitability.
Steel Dynamics noted that indexed hot rolled steel prices fell by more than $70 per ton from July to October 2025, lowering Q4 selling values, particularly on contracts that are priced based on lagging market rates.
The company also expects lower earnings from metals recycling and steel fabrication in Q4 compared to the previous quarter.
Despite the anticipated lower earnings, Steel Dynamics reported an estimated $200 million common stock repurchase in Q4, representing about 1% of its outstanding shares.
Additionally, the company’s aluminum Columbus mill is commissioning and progressing with product qualifications.