Steel Dynamics (STLD) Q3 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure · Editorial policy
Key numbers
- Adjusted EPS
- $5.26
- Estimate
- $5.41
- Surprise
- -2.7%
- Revenue (period 2026-09-30)
- $6.51B
- Score at report (before → after)
- 6.7 → 6.8/10
Revenue source: xbrl.
How the report landed
Steel Dynamics (STLD) missed the $5.41 estimate with adjusted EPS of $5.26 — a modest 2.7% shortfall. TrendMatrix's engine moved from Buy (Wait) (6.7/10) to Sell at 6.8/10 after the report — the engine's score rose despite the miss.
Where TrendMatrix's rating stands now
TrendMatrix currently rates STLD Sell at 6.3/10.
2 of the last 4 quarters beat the estimate; this quarter's -2.7% surprise compares with a +1.4% four-quarter average. Next scheduled report: 2027-01-25.
What supports the rating
- Attractive valuation
- Strong growth profile
What argues against it
- Thin upside margin: 3.6%
- Sector modifier (Basic Materials): -0.1
- Consecutive earnings misses (2)
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $229.04
- Price target
- $237.23
- Stop
- $214.63
- Upside to target
- +3.6%
- Reward-to-risk
- 0.4:1
The stock trades at 16.5× trailing but 10.4× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-11-09 — shown for context, not personalized investment advice.
STLD at TrendMatrix's latest read
Materials producers report against the commodity cycle — realized-price capture and volume, not the EPS line, are the tells in a quarter like this.
- Industry
- Steel
- Market cap
- $31.70B
- P/E (fwd)
- 10.4
- P/E (ttm)
- 16.5
- 52-week range
- $150.22–$288.74
- Off 52-week high
- 20.7%
- RSI (14)
- 40
- Volume vs avg
- 0.19×
- Score today
- 6.3/10