Edition:
United Kingdom

Nucor Reports Q4 Earnings Per Share $1.20


Tuesday, 30 Jan 2018 

Jan 30 (Reuters) - Nucor Corp ::NUCOR REPORTS RESULTS FOR FOURTH QUARTER AND YEAR ENDED 2017.Q4 EARNINGS PER SHARE $1.20.Q4 SALES $5.09 BILLION VERSUS I/B/E/S VIEW $4.88 BILLION.Q4 EARNINGS PER SHARE VIEW $0.76 -- THOMSON REUTERS I/B/E/S.AVERAGE SCRAP AND SCRAP SUBSTITUTE COST PER TON USED IN THE FOURTH QUARTER OF 2017 WAS $317, UNCHANGED FROM THE THIRD QUARTER OF 2017.TOTAL TONS SHIPPED TO OUTSIDE CUSTOMERS WERE 6,542,000 TONS IN Q4 OF 2017 AN INCREASE OF 13% FROM Q4 OF 2016.‍QTRLY AVERAGE SALES PRICE PER TON WAS COMPARABLE WITH Q3 OF 2017 AND INCREASED 14% COMPARED TO Q4 OF 2016​.NUCOR - INCLUDED IN Q4 RESULTS WAS A NET BENEFIT OF $175.2 MILLION, OR $0.55 PER SHARE, RELATED TO IMPACTS OF U.S. FEDERAL TAX LEGISLATION.IMPORTS CONTINUE TO NEGATIVELY IMPACT U.S. STEEL INDUSTRY.WEAKNESS IN PLATE STEEL NEGATIVELY IMPACTED EARNINGS OF STEEL MILLS SEGMENT IN Q4 OF 2017 AS COMPARED TO Q3 OF 2017.EARNINGS IN Q1 OF 2018 ARE EXPECTED TO INCREASE COMPARED TO Q4 OF 2017, EXCLUSIVE OF BENEFIT RECORDED IN Q4 OF 2017 RELATED TO TAX REFORM.NUCOR- FOR Q1 2018, THERE IS SIGNIFICANT OPTIMISM IN STEEL END USE MARKETS , ENCOURAGED BY POSITIVE PRICING MOMENTUM BUILDING THROUGHOUT QUARTER.Q1 OF 2018 RESULTS WILL BE NEGATIVELY IMPACTED BY HIGHER SCRAP PRICES AND WEATHER RELATED INTERRUPTIONS AT SOME OF CO'S SHEET MILLS.‍EXPECT EARNINGS IN RAW MATERIALS SEGMENT IN Q1 OF 2018 TO IMPROVE COMPARED TO Q4 OF 2017​.IN Q1, EXPECT DECREASED EARNINGS IN STEEL PRODUCTS SEGMENT DUE TO TYPICAL SEASONALITY.