FORT WAYNE, Ind., 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.
SOURCE Steel Dynamics, Inc.