Steel Dynamics (NASDAQ: STLD) stock is soaring 5.29% in early trading on Wednesday, following the release of its stronger-than-expected first-quarter financial results. The impressive performance has caught the attention of investors, leading to significant upward movement in the stock price.

The company reported robust operational metrics for the first quarter, shipping 3.5 million tons of steel during the period. Steel Dynamics also generated $230 million of operating income from its steel operations, showcasing the strength of its core business despite challenging market conditions.

The positive sentiment was already evident in after-hours trading on Tuesday, with Steel Dynamics shares gaining 1.6% to $119.31. This upward trajectory has continued into Wednesday's regular trading session, reflecting investors' confidence in the company's performance and outlook. The strong quarterly results may position Steel Dynamics as a standout in the steel industry, potentially attracting further investor interest in the coming days.