UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 


 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported) June 18, 2014 (June 16, 2014)

 

STEEL DYNAMICS, INC.

(Exact name of registrant as specified in its charter)

 

Indiana

 

0-21719

 

35-1929476

(State or other jurisdiction

 

(Commission File Number)

 

(IRS Employer

of incorporation)

 

 

 

Identification No.)

 

7575 West Jefferson Blvd, Fort Wayne, Indiana 46804

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: 260-969-3500

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 8.01.  Other Events.

 

On June 16, 2014, Steel Dynamics, Inc. issued a press release titled “Steel Dynamics Provides Second Quarter 2014 Earnings Guidance and Announces Second Quarter Cash Dividend.”  The full text of the press release is furnished herewith as Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

 

Item 9.01.  Financial Statements and Exhibits.

 

(d) Exhibits.

 

The following exhibit is furnished with this report:

 

Exhibit Number

 

Description

 

 

 

99.1

 

A press release dated June 16, 2014, titled “Steel Dynamics Provides Second Quarter 2014 Earnings Guidance and Announces Second Quarter Cash Dividend.”

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereto duly authorized.

 

 

 

 

STEEL DYNAMICS, INC.

 

 

 

 

 

/s/Theresa E. Wagler

 

 

 

Date: June 18, 2014

By:

Theresa E. Wagler

 

Title:

Chief Financial Officer

 

2




Exhibit 99.1

 

Press Release

June 16, 2014

 

GRAPHIC

 

7575 W. Jefferson Blvd.

 

Fort Wayne, IN 46804

 

Steel Dynamics Provides Second Quarter 2014 Earnings Guidance and

Announces Second Quarter Cash Dividend

 

FORT WAYNE, INDIANA, June 16, 2014 / PRNewswire / Steel Dynamics, Inc. (NASDAQ/GS: STLD) today provided second quarter earnings guidance in the range of $0.28 to $0.32 per diluted share.  Estimated second quarter 2014 earnings are higher than both the company’s sequential first quarter 2014 earnings of $0.17 per diluted share and second quarter 2013 earnings of $0.13 per diluted share.

 

Profitability from the company’s steel operations for the second quarter 2014 is expected to be higher in comparison to the sequential quarter earnings. Both shipments and metal spreads are expected to improve across the steel operating platform, despite significantly increased import activity.  The first quarter winter weather-induced slowdown in the domestic market has subsided.  Demand from key steel-consuming end markets is expected to continue to trend favorably, more notably in automotive, manufacturing and construction.

 

Residential construction rebounded as more temperate climate conditions existed.  In addition, increased demand for the company’s structural steel and fabricated steel joist and decking products suggests the nonresidential construction market is also continuing a positive trend.  Second quarter 2014 profitability from the company’s fabrication operations is expected to continue to increase based on both improved volume and margins.

 

Metals recycling financial results are also expected to improve for the second quarter 2014 when compared to the sequential quarter, based on higher shipments more than offsetting ferrous margin deterioration that occurred due to decreased selling values.

 

Dividends

 

The company’s board of directors has declared a quarterly cash dividend of $0.1150 per common share. The dividend is payable to shareholders of record at the close of business on June 30, 2014, and is payable on or about July 11, 2014.

 



 

About Steel Dynamics, Inc.

 

Steel Dynamics, Inc. is one of the largest domestic steel producers and metals recyclers in the United States based on estimated annual steelmaking and metals recycling capability, with annual sales of $7.4 billion in 2013, over 6,800 employees, and manufacturing facilities primarily located throughout the United States (including five steel mills, six steel processing facilities, two iron production facilities, over 90 metals recycling locations and six steel fabrication plants).

 

Forward-Looking Statement

 

This press release contains some predictive statements about future events, including statements related to conditions in the steel and metallic scrap markets, Steel Dynamics’ revenues, costs of purchased materials, future profitability and earnings, and the operation of new or existing facilities. These statements are intended to be made as “forward-looking,” subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These statements speak only as of this date and are based upon information and assumptions, which we consider reasonable as of this date, concerning our businesses and the environments in which they operate. Such predictive statements are not guarantees of future performance, and we undertake no duty to update or revise any such statements. Some factors that could cause such forward-looking statements to turn out differently than anticipated include: (1) the effects of a recurrent slowing economy on industrial demand; (2) changes in economic conditions, either generally or in any of the steel or scrap-consuming sectors which affect demand for our products, including the strength of the non-residential and residential construction, automotive, appliance, and other steel-consuming industries; (3) fluctuations in the cost of key raw materials (including steel scrap, iron units, and energy costs) and our ability to pass-on any cost increases; (4) the impact of domestic and foreign import price competition; (5) risks and uncertainties involving product and/or technology development; and (6) occurrences of unexpected plant outages or equipment failures.

 

More specifically, we refer you to SDI’s more detailed explanation of these and other factors and risks that may cause such predictive statements to turn out differently, as set forth in our most recent Annual Report on Form 10-K, in our quarterly reports on Form 10-Q or in other reports which we from time to time file with the Securities and Exchange Commission. These are available publicly on the SEC Web site, www.sec.gov, and on the Steel Dynamics Web site, www.steeldynamics.com.

 

Contact:  Marlene Owen, Director Investor Relations —+1.260.969.3500

 


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