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Press Release July 19 , 2021 SDI Exhibit 99.1 Steel Dynamics , Inc : 7575 W. Jefferson Blvd. Fort Wayne , IN 46804 Steel Dynamics Reports Record Second Quarter 2021 Results FORT WAYNE , INDIANA , July 19 , 2021 / PRNewswire / Second Quarter 2021 Highlights : § Record steel and fabrication shipments of 2.9 million tons and 189,000 tons , respectively §Record net sales of $ 4.5 billion §Record operating income of $ 956 million and record net income of $ 702 million § Record cash flow from operations of $ 587 million and record adjusted EBITDA of over $ 1.0 billion § Share repurchases of $ 393 million of the company's common stock , representing 3 % of its outstanding shares §Announced new $ 1.0 billion share repurchase authorization § Announced greenhouse gas and renewable energy goals , including steel mill carbon neutrality by 2050 Steel Dynamics , Inc. ( NASDAQ / GS : STLD ) today announced second quarter 2021 financial results . The company reported record second quarter 2021 net sales of $ 4.5 billion and net income of $ 702 million , or $ 3.32 per diluted share . Excluding the impact from the following item , the company's second quarter 2021 adjusted net income was $ 719 million , or $ 3.40 per diluted share : §Costs of approximately $ 23 million , or $ 0.08 per diluted share ( net of capitalized interest ) , associated with construction of the company's Sinton Texas Flat Roll Steel Mill growth investment . Comparatively , prior year second quarter net sales were $ 2.1 billion , with net income of $ 75 million , or $ 0.36 per diluted share , and adjusted earnings were $ 0.47 per diluted share , excluding the impact of the company's June 2020 refinancing activities of approximately $ 25 million , or $ 0.08 per diluted share , and costs associated with the construction of the company's Texas steel mill of $ 0.03 per diluted share . The company's sequential first quarter 2021 earnings were $ 2.03 per diluted share , and adjusted earnings were $ 2.10 per diluted share , also excluding the impact of construction costs related to the Texas steel mill of $ 0.07 per diluted share . " The team performed exceptionally well , achieving record quarterly operational and financial results , including record sales , operating income , cash flow from operations , and adjusted EBITDA , ” said Mark D. Millett , Chairman and Chief Executive Officer . “ Our second quarter 2021 operating income increased 61 percent sequentially to $ 956 million , with adjusted EBITDA of over $ 1.0 billion . We continue to achieve numerous individual operating and financial records -a truly amazing achievement and a testament to the passion and dedication of our team . Based on their second quarter 2021 performance , we generated record quarterly cash flow from operations of $ 587 million and maintained strong liquidity , while at the same time supporting increased working capital needs , significantly growing our business through organic growth investments , and returning capital to shareholders . “ During the second quarter , steel demand remained robust as shipments and product pricing continued their positive momentum across our entire steel platform . Higher steel selling values drove significant metal spread expansion across the entire platform and were most prominent within the flat roll steel operations , as continued demand strength and historically low customer inventories persisted throughout the supply chain and supported prices . Domestic steel consumption was strong from the automotive , construction , and industrial sectors , while the energy sector continued to show signs of rebounding . “ Our segment operating results were exceptional , ” continued Millett . “ Second quarter operating income from our steel operations was a record $ 1.0 billion , and our metals recycling operations sustained strong earnings , as increased domestic steel mill utilization of 81 % supported ferrous scrap demand and pricing . Our steel fabrication operations once again achieved record quarterly shipments and ended June with another record order backlog , as we are in the middle of the summer construction season . '