Edition:
United Kingdom

Steel Dynamics Reports Q4 EPS $1.28


Monday, 22 Jan 2018 

Jan 22 (Reuters) - Steel Dynamics Inc ::FY 2017 SALES $9.5 BILLION.STEEL DYNAMICS REPORTS FOURTH QUARTER AND ANNUAL 2017 RESULTS.Q4 EARNINGS PER SHARE $1.28.Q4 REVENUE VIEW $2.21 BILLION -- THOMSON REUTERS I/B/E/S.Q4 EARNINGS PER SHARE VIEW $0.55 -- THOMSON REUTERS I/B/E/S.STEEL DYNAMICS - RECORDED ONE-TIME TAX BENEFIT OF $181 MILLION IN QUARTER RESULTING FROM REVALUATION OF ITS DEFERRED TAX ASSETS AND LIABILITIES.STEEL DYNAMICS-IN QUARTER, HAD TAX BENEFIT OF ABOUT $16 MILLION, OR $0.07 PER DILUTED SHARE, RELATED TO SOME DISCRETE VALUATION ALLOWANCE REDUCTIONS, OTHERS.‍"BELIEVE RECENT TAX REFORM WILL ALSO PROVIDE A STIMULUS FOR ADDITIONAL DOMESTIC FIXED ASSET INVESTMENT AND GROWTH"​.FABRICATION ORDER BACKLOG AND CUSTOMER SENTIMENT REMAINS "STRONG".STRONG FABRICATION ORDER BACKLOG IS A POSITIVE INDICATION THAT NON-RESIDENTIAL CONSTRUCTION MARKET IS CONTINUING TO STRENGTHEN.QTRLY ‍CONSOLIDATED NET SALES $2.34 BILLION VERSUS $1.91 BILLION​.STEEL DYNAMICS - DOMESTIC STEEL INDUSTRY BENEFITED IN 2017 FROM IMPROVEMENT IN DEMAND, AS AUTOMOTIVE SECTOR REMAINED STRONG, & CONSTRUCTION, ENERGY SECTORS IMPROVED.STEEL DYNAMICS - "CONFIDENT" CURRENT AND ANTICIPATED MACROECONOMIC AND MARKET CONDITIONS ARE IN PLACE TO BENEFIT DOMESTIC STEEL CONSUMPTION IN 2018.DOMESTIC STEEL INVENTORY LEVELS HAVE MODERATED.WORLD STEEL DEMAND AND PRICING HAVE STRUCTURALLY IMPROVED AND DOMESTIC STEEL DEMAND REMAINS HEALTHY.