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Comparing Steel Companies’ 4Q17 Performance

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Feb. 14 2018, Published 2:08 p.m. ET

Steel companies’ 4Q17 performance

We’re now reaching the end of the 4Q17 earnings season, and most steel companies have released their 4Q17 financial results. Steel Dynamics was the first major steel company to release its 4Q17 earnings, on January 22. AK Steel (AKS) and Nucor (NUE) released their 4Q17 earnings on January 30, while ArcelorMittal (MT) and U.S. Steel Corporation (X) released their 4Q17 earnings on January 31. U.S. Steel held its 4Q17 earnings conference call on February 1.

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4Q17 earnings season

All the companies we’re covering in this series posted better-than-expected earnings in the quarter. However, barring Steel Dynamics, all other companies saw negative price action after their 4Q17 earnings release. The price movement could also be due, in part, to the sell-off in broader markets (XME). Plus, while steel companies’ 4Q17 earnings were better than expected, their 2018 outlook was likely less rosy than markets were expecting.

AK Steel’s 2018 guidance especially spooked markets, and the stock saw negative price action of 13.0% after its 4Q17 earnings release. See What Lies Ahead for AK Steel in 2018? for key takeaways from the company’s 4Q17 earnings call.

Series overview

In this series, we’ll explore the highlights from major steel companies’ 4Q17 results. We’ll compare 4Q17 performance in terms of key financial metrics and see which companies performed better in the quarter.

Let’s begin by looking at steel companies’ 4Q17 shipments profile in the next part of this series.

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