So far, 2018 has started on a positive note for US steel companies. Steel stocks, which were subdued for most of 2017, saw a sharp rally in December. The positive momentum has continued into January as well.
4Q17 earnings season
Now, we’re into the 4Q17 earnings season. Steel Dynamics is expected to release its 4Q17 financial results on January 22, 2018. AK Steel (AKS) and Nucor (NUE) are scheduled to release their 4Q17 earnings on January 30. U.S. Steel Corporation (X) will release its earnings on January 31. U.S. Steel Corporation will hold its earnings conference call on February 1. ArcelorMittal (MT), the world’s largest steel producer (XME), is slated to release its 4Q17 earnings on February 10.
Notably, there have been some important developments in the US steel space this month. The US Department of Commerce submitted the findings of the Section 232 imports probe to President Trump. The Trump Administration ordered the probe last year to investigate whether steel imports threaten US national security. According to the Department of Commerce, “After this submission, by law, the President has 90 days to decide on any potential action based on the findings of the investigation.” Read Section 232 Probe Could Reshape the US Steel Industry in 2018 to find out how the Section 232 imports probe could impact the US steel industry’s competitive landscape.
In this series, we’ll assess how analysts rate leading steel producers before their 4Q17 earnings. We’ll also look at some steel companies’ 4Q17 earnings estimates. Let’s start by looking at Steel Dynamics’ 4Q17 earnings estimates.