1Q18 earnings season
Steel Dynamics (STLD) released its 1Q18 earnings on April 18, 2018. Nucor (NUE) is scheduled to release its 1Q18 earnings on April 19. U.S. Steel Corporation (X) and AK Steel (AKS) are slated to release their financial results on April 30. ArcelorMittal’s (MT) 1Q18 earnings are scheduled for May 11. In this part, we’ll discuss Steel Dynamics’ 1Q18 earnings.
Steel Dynamics’ 1Q18 earnings
Steel Dynamics reported revenues of $2.6 billion in 1Q18—compared to $2.3 billion in 4Q17 and $2.4 billion in 1Q17. The company reported an adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $400 million in 1Q18—compared to $285 million in 4Q17 and $421 million in 1Q17. Steel Dynamics’ 1Q18 EPS (earnings per share) was $0.96. Steel Dynamics’ 1Q18 earnings managed to beat consensus estimates and the company’s guidance. While releasing its 1Q18 earnings guidance, Steel Dynamics said that it expects to post an EPS of $0.88–$0.92 during the quarter.
Notably, steel companies’ 1Q18 earnings would also be closely followed for their guidance and outlook. During the 1Q18 earnings release, Steel Dynamics provided an upbeat outlook for the US steel industry. During the company’s 1Q18 earnings release, Mark D. Millet, Steel Dynamics’ CEO, said, “We remain confident that current and anticipated macroeconomic and market conditions are in place to benefit domestic steel consumption in 2018.” Millet also said, “We also believe recent U.S. Federal Administration steel trade actions will result in reduced imports during the year, and that tax reform will provide a stimulus for additional domestic fixed asset investment and growth.”
Check out all the data we have added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data as well as dividend info. Take a look!