Short answer
Steel Dynamics (STLD) filed its Q3 2025 10-Q quarterly report on Oct 24, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $4.8B (up 11.2% year over year) with net income of $404M.
Q3 2025 key financials · XBRL
- Revenue
- $4.8B
- +11.2% YoY · +5.8% QoQ
- Net income
- $404M
- +27.0% YoY · +35.1% QoQ
- Operating margin
- 10.5%
- Gross margin
- 15.7%
- EPS (diluted)
- $2.73
- +31.9% YoY · +36.5% QoQ
Source: XBRL data from the Steel Dynamics (STLD) Q3 2025 10-Q on SEC EDGAR. USD.
Steel Dynamics Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $4.8B Q3 2025, up 11% YoY from $4.3B, led by Steel Operations (+21%) and Metals Recycling (+10%)
- Operating margin 10.5% Q3 2025 vs 9.1% Q3 2024; Q3 operating income $508M, up 28% YoY from $395M
- Best segment Steel Operations with $497M operating income (+65% YoY); worst Aluminum segment loss $57M (down 157%)
- Cash and equivalents $770M; total liquidity $2.2B; operating cash flow $1.2B first nine months 2025 vs $1.5B prior year
- Management reports strong steel shipments record 3.6M tons, ongoing aluminum ramp-up, and expects to maintain credit covenants
Risk Factors
- No material changes to risk factors since 2024 10-K filing
- Continued exposure to steel price volatility affecting revenue and margins
- Ongoing regulatory risks including environmental compliance and tariffs impact operations
- Market risk tied to demand fluctuations in automotive and construction sectors
- Liquidity management and debt maturity remain stable with no new financial risks disclosed
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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