Steel Dynamics Q3 FY26: where the revenue came from and where it went
The whole income statement of Steel Dynamics for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2026
- Reported
- Oct 23, 2026
Revenue$6.51B
+35% year over year
Gross profit$1.28B
20% margin
Operating profit$1.01B
15% margin
Net profit$0.76B
12% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 6.51 | 100% | +35% |
| US | 6.11 | 94% | +36% |
| Non US | 0.40 | 6% | +24% |
| Cost of revenue | −5.23 | 80% | |
| Gross profit | 1.28 | 20% margin | +4pp |
| SG&A | −0.19 | 3% | −1pp |
| Other | −0.09 | 1% | +0pp |
| Operating profit | 1.01 | 15% margin | +5pp |
| Tax | −0.25 | ||
| Net profit | 0.76 | 12% margin | +3pp |
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