Steel Dynamics, Inc. has provided its earnings guidance for the second quarter of 2025, projecting earnings per diluted share to fall within the range of $2.00 to $2.04. This forecast follows first quarter 2025 earnings of $1.44 per diluted share and a prior year second quarter earnings of $2.72 per diluted share. The company anticipates a decline in earnings from its steel fabrication operations due to increased raw material costs and a slight drop in average sales prices, despite an increase in order activity and backlog. Conversely, profitability from steel operations is expected to improve substantially, driven by wider metal spreads and increased steel pricing. The metals recycling segment is projected to maintain steady earnings, while the aluminum division continues its commissioning efforts, with an expectation to begin material shipments by mid-2025. Steel Dynamics has also repurchased $179 million worth of its common stock during the quarter. The company will announce its full second quarter results on July 21, 2025, followed by a conference call on July 22.