SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): April 21, 2003
STEEL DYNAMICS, INC.
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(Exact name of registrant as specified in its charter)
Indiana 0-21719 35-1929476
(State or other jurisdiction of (Commission File Number) (IRS Employer Identification
incorporation or organization) No.)
6714 Pointe Inverness Way, Suite 200, Fort Wayne, Indiana 46804
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(Address of principal executive officers) (Zip Code)
Registrant's telephone number, including area code:
260-459-3553
(Former name or former address, if changed since last report)
Not Applicable
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
The following information, including the referenced exhibit, is being furnished
to the Commission. Pursuant to General Instruction B.6 to Form 8-K, this
information is not to be deemed "filed" for purposes of Section 18 of the
Exchange Act nor is it to be deemed included in any filing that incorporates
reports on Form 8-K by reference into any such filing.
On April 21, 2003, Steel Dynamics, Inc. issued a press release regarding first
quarter 2003 earnings results entitled "Steel Dynamics Posts Strong First
Quarter Results." A copy of the press release is being furnished to the
Securities and Exchange Commission by attachment as Exhibit 99.1 to this Report.
The April 21, 2003 earnings release was issued in advance of the company's
regular earnings teleconference, which was held on April 22, 2003. During
the webcast teleconference, Keith E. Busse, SDI's president and CEO, estimated
second quarter flat roll shipments of approximately 525,000 tons and structural
shipments of approximately 100,000 tons. He also estimated second quarter
earnings at the lower-end of a $.10 to $.15 per diluted share range. During
the conversation Mr. Busse estimated that the scrap costs would be down $5 to
$15 per ton during the quarter but did not point out that these cost decreases
would largely not impact the company until the latter stages of the quarter.
SDI will be melting peak purchase price scrap units in April and May and will
be melting the less costly scrap units in June. On the basis of total scrap
tons charged, the scrap costs for the second quarter are estimated to be $128
per net ton charged, an increase of $7 per ton on a linked first quarter to
second quarter comparison basis.
SIGNATURES
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/ Tracy L. Shellabarger
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Date: April 21, 2003 By: Tracy L. Shellabarger
Title: Secretary
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INDEX TO EXHIBITS
Exhibit Description
99.1 Press release dated April 21, 2003
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