Steel companies’ fourth-quarter earnings
We’re getting towards the end of the fourth-quarter earnings season. All of the leading US steel producers have released their quarterly earnings. Steel Dynamics (STLD) was the first major steel company to release its quarterly results on January 22. AK Steel’s (AKS) earnings were released on January 28. Nucor (NUE) released its earnings on January 29.
U.S. Steel (X) released its fourth-quarter earnings on January 30. ArcelorMittal (MT) released its earnings on February 6. Looking at the bottom line, all of these companies except U.S. Steel posted better-than-expected earnings. Several steel companies missed their revenue estimates and the guidance didn’t enthuse investors. AK Steel and U.S. Steel’s guidance was lower compared to what the markets were expecting. Read U.S. Steel’s 2019 Guidance: What You Need to Know for a detailed analysis of U.S. Steel’s fourth-quarter earnings and guidance.
Generally, analysts were bearish on steel stocks after their fourth-quarter earnings. Read Analysts Still Hate Steel Stocks despite Bumper Earnings to see how analysts revised their ratings on steel stocks after their fourth-quarter earnings. In this series, we’ll compare steel companies’ fourth-quarter earnings. We’ll see how different steel companies (CLF) fared on key metrics during the quarter.
Next, we’ll discuss steel companies’ shipments.