$STLD
STEEL DYNAMICS INC

2024 Q3 Form 10-Q Financial Statement

#000155837024011535 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $4.342B $4.633B
YoY Change -5.35% -8.84%
Cost Of Revenue $3.736B $3.858B
YoY Change 2.79% 2.2%
Gross Profit $605.2M $774.8M
YoY Change -36.43% -40.71%
Gross Profit Margin 13.94% 16.73%
Selling, General & Admin $202.1M $208.1M
YoY Change -3.88% -10.39%
% of Gross Profit 33.4% 26.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $121.1M $117.1M
YoY Change 12.69% 5.48%
% of Gross Profit 20.0% 15.11%
Operating Expenses $209.8M $215.7M
YoY Change -3.99% -11.27%
Operating Profit $395.4M $559.1M
YoY Change -46.09% -47.44%
Interest Expense -$17.07M -$12.72M
YoY Change -192.7% -38.75%
% of Operating Profit -4.32% -2.27%
Other Income/Expense, Net $29.66M $18.71M
YoY Change -24.85% -40.32%
Pretax Income $408.0M $565.1M
YoY Change -45.93% -47.4%
Income Tax $87.13M $133.4M
% Of Pretax Income 21.35% 23.61%
Net Earnings $317.8M $428.0M
YoY Change -44.94% -47.3%
Net Earnings / Revenue 7.32% 9.24%
Basic Earnings Per Share $2.06 $2.73
Diluted Earnings Per Share $2.05 $2.72
COMMON SHARES
Basic Shares Outstanding 154.3M 157.1M
Diluted Shares Outstanding 154.8M 157.6M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.661B $1.248B
YoY Change -26.72% -40.19%
Cash & Equivalents $1.015B $830.0M
Short-Term Investments $645.3M $418.4M
Other Short-Term Assets $173.2M $141.6M
YoY Change 24.94% 16.07%
Inventory $3.045B $3.074B
Prepaid Expenses
Receivables $1.565B $1.775B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.444B $6.239B
YoY Change -10.86% -15.64%
LONG-TERM ASSETS
Property, Plant & Equipment $7.826B $7.434B
YoY Change 23.96% 28.53%
Goodwill $477.5M $477.5M
YoY Change 0.0% 0.0%
Intangibles $234.8M $242.5M
YoY Change -11.68% -11.52%
Long-Term Investments
YoY Change
Other Assets $678.1M $668.8M
YoY Change 5.35% 7.82%
Total Long-Term Assets $9.216B $8.822B
YoY Change 19.69% 23.3%
TOTAL ASSETS
Total Short-Term Assets $6.444B $6.239B
Total Long-Term Assets $9.216B $8.822B
Total Assets $15.66B $15.06B
YoY Change 4.9% 3.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.080B $1.213B
YoY Change 1.87% 15.72%
Accrued Expenses $724.2M $620.8M
YoY Change 115.39% 1.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $882.0M $815.6M
YoY Change 924.87% 1334.25%
Total Short-Term Liabilities $2.692B $2.656B
YoY Change 40.34% 50.99%
LONG-TERM LIABILITIES
Long-Term Debt $2.802B $2.213B
YoY Change -6.88% -26.51%
Other Long-Term Liabilities $143.2M $144.0M
YoY Change -21.39% -17.77%
Total Long-Term Liabilities $2.945B $2.357B
YoY Change -7.71% -26.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.692B $2.656B
Total Long-Term Liabilities $2.945B $2.357B
Total Liabilities $6.578B $5.930B
YoY Change 8.36% 1.49%
SHAREHOLDERS EQUITY
Retained Earnings $14.66B $14.41B
YoY Change 11.15% 13.65%
Common Stock $1.221B $1.208B
YoY Change 0.43% 0.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.082B $9.131B
YoY Change
Total Liabilities & Shareholders Equity $15.66B $15.06B
YoY Change 4.9% 3.5%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $317.8M $428.0M
YoY Change -44.94% -47.3%
Depreciation, Depletion And Amortization $121.1M $117.1M
YoY Change 12.69% 5.48%
Cash From Operating Activities $759.9M $382.6M
YoY Change -31.77% -52.64%
INVESTING ACTIVITIES
Capital Expenditures $621.4M $419.2M
YoY Change 11.28% 16.99%
Acquisitions
YoY Change
Other Investing Activities -$230.6M $209.6M
YoY Change -4015.12% -282.26%
Cash From Investing Activities -$852.0M -$209.6M
YoY Change 88.27% -55.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 277.4M -382.4M
YoY Change -174.76% -17.62%
NET CHANGE
Cash From Operating Activities 759.9M 382.6M
Cash From Investing Activities -852.0M -209.6M
Cash From Financing Activities 277.4M -382.4M
Net Change In Cash 185.2M -209.4M
YoY Change -36.16% 61.58%
FREE CASH FLOW
Cash From Operating Activities $759.9M $382.6M
Capital Expenditures $621.4M $419.2M
Free Cash Flow $138.5M -$36.61M
YoY Change -75.06% -108.14%

Facts In Submission

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us-gaap Income Taxes Paid Net
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us-gaap Number Of Reportable Segments
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">These consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States, and accordingly, include amounts that require management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in the notes thereto. Actual results may differ from these estimates and assumptions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In the opinion of management, these financial statements reflect all normal recurring adjustments necessary for a fair presentation of the interim period results. These consolidated financial statements and notes should be read in conjunction with the audited financial statements and notes thereto included in the company’s Annual Report on Form 10-K for the year ended December 31, 2023.</p>
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4632634000
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
559123000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
565112000
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
117053000
CY2024Q2 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
419166000
CY2024Q2 us-gaap Assets
Assets
15061257000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5081630000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1063735000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1074316000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
110970000
CY2023Q2 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
358280000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9326637000
us-gaap Operating Income Loss
OperatingIncomeLoss
1310098000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1330893000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
232305000
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
793476000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9974836000
us-gaap Operating Income Loss
OperatingIncomeLoss
1899095000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1922105000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
218664000
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
584599000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 stld Non Rule10b51 Arrangement Modified Flag
NonRule10b51ArrangementModifiedFlag
false
CY2024Q2 stld Rule10b51 Arrangement Modified Flag
Rule10b51ArrangementModifiedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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