Analysts polled by Thomson Reuters expect U.S. Steel to post revenues of $11.9 billion in 2017.
ArcelorMittal’s mining operations generated an operating income of $203 million in 4Q16, almost double what they generated in 3Q16.
AK Steel sources all of its iron ore and ~85% of its coal requirements from third parties.
U.S. Steel Corporation (X) was among the best-performing steel stocks (DIA) (DOW) in 2016, with gains of 313%.
Analysts expect Nucor to post revenues of ~$4.6 billion in 1Q17.
Analysts polled by Thomson Reuters expect AK Steel to post revenues of $1.48 billion in 1Q17. The company had posted revenues of $1.42 billion in 4Q16 and $1.52 billion in 1Q16.
As energy prices have moved to higher price levels and rig counts have seen some upward traction, the menace of higher imports seems to be back.
Nucor (NUE) expects to post earnings per share (or EPS) between $1.10–$1.15 in 1Q17.
According to data released by the AISI, US steel production rose 6.3% YoY in the week ended March 11, 2017.
So far, 2017 has been a mixed year for steelmakers. U.S. Steel Corporation has gained 12.9% in 2017, while Nucor is trading with year-to-date gains of 8.0%.
Declining load factors and unbridled capacity expansion typically result in pricing wars, which was the case throughout 2015.
Among the seven major carriers, most analysts seem to favor Delta Air Lines (DAL), which has a “buy” rating from 87.5% of the analysts.
As many as 30,000 pilots will reach the mandatory retirement age of 65 years by 2026. A study by the University of North Dakota notes that without sufficient new hires, airlines could face a pilot shortage in perhaps three years.
In 4Q16, Southwest Airlines’s (LUV) yields fell 4% year-over-year to 14.7 cents, followed by Alaska Air’s (ALK) 3.3% decline in yield to 13.4 cents.
American Airlines (AAL) cut its forecast. It still expects its unit revenues to rise 1.5%–3.5%, which is lower than its earlier guidance of 2.5%–4.5% improvement.
Since December 2016, airfares have been rising on a month-over-month basis. Airfares rose 1.9% to $275.10 in December 2016, the biggest gain since June 2015.
For February 2017, capacity addition of the seven major airlines was 1.7% lower than the 6.1% growth seen in January.
Spirit Airlines saw the highest decline in utilization, dropping 3.1% to 80.7%.
For February 2017, demand for the top seven airlines grew an average 1.1% year-over-year, significantly below the 4.9% YoY growth seen in January.
In December 2017, OPEC agreed to cut its oil production by 1.2 million barrels per day. Non-OPEC countries also agreed to cut production by 0.6 million barrels per day.