Metals & Mining
STLD delivered sharply higher Q2 FY2026 profitability as revenue rose 33.4% to $6.1B and operating income rose 83.0% to $700.5M, driven principally by stronger steel pricing, shipment growth, and wider steel and recycling metal spreads. Source: 10-Q Item 2 MD&A, pp.15-18.
Key risk: Leverage and debt-service exposure
Long-term debt was $4.2B at Q2 FY2026, equal to a debt-to-equity ratio of 0.82x. Although the current ratio was a strong 3.18x, a meaningful debt balance can increase sensitivity to interest costs and operating-performance changes; net interest expense increased 125% year over year to $39.1M according to the MD&A.
Other Steel companies