Steel Dynamics Inc. reported first-quarter revenue that grew at its fastest pace since 2022, beating analysts' estimates as rising steel prices and record shipments drove a profit rebound. The company shipped 3.6 million tons of steel, a 4.5% increase from last year, while earnings per share of $2.78 jumped 93% year-over-year.

Despite total steel shipments coming in slightly below estimates, the results demonstrate a strengthening sales recovery that began in last year's third quarter. Steel Dynamics, which produces new steel from recycled scrap metal, has benefited from rising US demand for domestic steel sources, particularly following the Trump administration's tariffs on imported steel.

CEO Mark Millet said the company is experiencing an improved steel market environment supported by domestic trade actions, manufacturing onshoring, infrastructure funding, and regionalized supply chains. He noted that demand for long-product steel like beams and rail remains "very strong" across all platforms. Steel Dynamics shares reached a record high Monday, gaining 24% year-to-date, reflecting investor confidence in the company's market position and growth trajectory.