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
Key numbers
- Adjusted EPS
- $5.26
- Estimate
- $5.41
- Surprise
- -2.7%
- Score at report (before → after)
- 6.7 → 6.8/10
Revenue for this quarter isn’t shown: the reported figure hasn’t cleared TrendMatrix’s freshness and sanity checks yet, and consensus revenue isn’t tracked. EPS above is the available figure.
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.
Coverage in the report window
- General Motors, Genuine Parts, Steel Dynamics And Other Big Stocks Moving Lower In Tuesday’s Pre-Market Session — benzinga, 2026-10-20
Where TrendMatrix's rating stands now
TrendMatrix currently rates STLD Sell at 6.7/10.
2 of the last 4 quarters beat the estimate; this quarter's -2.7% surprise compares with a +1.4% four-quarter average.
What supports the rating
- Attractive valuation
- Strong growth profile
What argues against it
- Commodity cycle peak: fwd P/E 11.5× (below 12) + fwd/trail 0.52× (below 0.55). EPS just expanded off a commodity-price surge — forward estimate may be built on stale spot, mean-reversion risk unpriced.
- Analyst target reached - limited upside remaining
- V7 low-quality RISK_OFF penalty: -0.5 (Q=4.9)
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
- $245.17
- Stop
- $231.57
The stock trades at 22.2× trailing but 11.5× forward earnings — consensus estimates already build in a substantial earnings recovery.
Risk check: RSI 78 — a level conventionally read as overbought; gains at these levels often lean on momentum; trading volume is running 1.8× its average — elevated turnover around the report window.
Model outputs from TrendMatrix’s engine as of 2026-10-20 — 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
- $35.14B
- P/E (fwd)
- 11.5
- P/E (ttm)
- 22.2
- 52-week range
- $146.11–$288.74
- Off 52-week high
- 15.1%
- RSI (14)
- 78
- Volume vs avg
- 1.78×
- Score today
- 6.7/10