Steel Dynamics

The company also invested $166 million in capital investments, paid cash dividends of $74 million, and repurchased $210 million of its outstanding common stock, representing 1.1 percent of its outstanding shares, while maintaining liquidity of $2.2 billion as of September 30, 2025.

SEC original ↗Steel Dynamics — Earnings release (8-K exhibit)EX-99Oct 21, 2025

The company also invested $760 million in capital investments, repaid $400 million of its senior notes, paid cash dividends of $218 million, and repurchased $661 million of its outstanding common stock, representing 3.4 percent of its outstanding shares, while maintaining liquidity of $2.2 billion.

SEC original ↗Steel Dynamics — Earnings release (8-K exhibit)EX-99Oct 21, 2025

(Quarterly Average Current Maturities of Long-term Debt + Long-term Debt + Total Equity) Note Regarding Non-GAAP Financial Measures The company reports its financial results in accordance with U.

SEC original ↗Steel Dynamics — Earnings release (8-K exhibit)EX-99Oct 21, 2025

stockholders, including the effect of assumed conversions when dilutive $ 2.74 $ 2.05 $ 6.17 $ 8.46 $ 2.01 Weighted average common shares and share equivalents outstanding 147,600 154,810 149,123 157,248 148,960 Dividends declared per share $ 0.50 $ 0.46 $ 1.50 $ 1.38 $ 0.50 Steel Dynamics, Inc.

SEC original ↗Steel Dynamics — Earnings release (8-K exhibit)EX-99Oct 21, 2025

stockholders, including the effect of assumed conversions when dilutive $ 5.26 $ 2.74 $ 11.72 $ 6.17 Weighted average common shares and share equivalents outstanding 143,623 147,600 144,512 149,123 Dividends declared per share $ 0.53 $ 0.50 $ 1.59 $ 1.50 See notes to consolidated financial statements.

SEC original ↗Steel Dynamics — 10-Q Quarterly report10-QOct 23, 2026

Also included in Other are certain unallocated corporate accounts, such as the company s senior unsecured credit facility, senior notes, certain other investments and certain profit sharing expenses.

SEC original ↗Steel Dynamics — 10-Q Quarterly report10-QOct 23, 2026

Our teams performed exceptionally well in the third quarter, achieving strong financial performance and hitting several operating milestones, while continuing to prioritize the safety and well-being of one another, said Mark D.

SEC original ↗Steel Dynamics — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Our three-year after-tax return-on-invested capital of 15 percent is a testament to our ongoing high-return capital allocation strategy.

SEC original ↗Steel Dynamics — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Third Quarter 2025 Comments Third quarter 2025 operating income for the company s steel operations was $498 million, or 30 percent higher than sequential second quarter results, due to record steel shipments and metal spread expansion, as scrap raw material costs declined more than average realized steel selling values.

SEC original ↗Steel Dynamics — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Third quarter 2025 operating income from the company s metals recycling operations was $32 million, or $10 million higher than sequential earnings, based on near-record ferrous scrap shipments and metal spread expansion.

SEC original ↗Steel Dynamics — Earnings release (8-K exhibit)EX-99Oct 21, 2025

"Our growth strategy has been deliberately aligned with the changing needs of our customers, emphasizing sustainable, efficient supply chain solutions and top-tier product quality primarily within the steel industry.

SEC original ↗Steel Dynamics — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Legal Proceedings 25 Item 1A.

SEC original ↗Steel Dynamics — 10-Q Quarterly report10-QOct 23, 2026

Commitments and Contingencies The company is involved in various litigation matters, including administrative and regulatory proceedings, that arise in the ordinary course of business, none of which are expected to have a material impact on the company s financial condition, results of operations, or liquidity .

SEC original ↗Steel Dynamics — 10-Q Quarterly report10-QOct 23, 2026