January 22, 2018 / 11:14 PM / 8 months ago

BRIEF-Steel Dynamics Reports Q4 EPS $1.28

Jan 22 (Reuters) - Steel Dynamics Inc:

* FY 2017 SALES $9.5 BILLION

* STEEL DYNAMICS REPORTS FOURTH QUARTER AND ANNUAL 2017 RESULTS

* Q4 EARNINGS PER SHARE $1.28

* Q4 REVENUE VIEW $2.21 BILLION -- THOMSON REUTERS I/B/E/S

* Q4 EARNINGS PER SHARE VIEW $0.55 -- THOMSON REUTERS I/B/E/S

* STEEL DYNAMICS - RECORDED ONE-TIME TAX BENEFIT OF $181 MILLION IN QUARTER RESULTING FROM REVALUATION OF ITS DEFERRED TAX ASSETS AND LIABILITIES

* STEEL DYNAMICS-IN QUARTER, HAD TAX BENEFIT OF ABOUT $16 MILLION, OR $0.07 PER DILUTED SHARE, RELATED TO SOME DISCRETE VALUATION ALLOWANCE REDUCTIONS, OTHERS

* ‍"BELIEVE RECENT TAX REFORM WILL ALSO PROVIDE A STIMULUS FOR ADDITIONAL DOMESTIC FIXED ASSET INVESTMENT AND GROWTH"​

* FABRICATION ORDER BACKLOG AND CUSTOMER SENTIMENT REMAINS "STRONG"

* STRONG FABRICATION ORDER BACKLOG IS A POSITIVE INDICATION THAT NON-RESIDENTIAL CONSTRUCTION MARKET IS CONTINUING TO STRENGTHEN

* QTRLY ‍CONSOLIDATED NET SALES $2.34 BILLION VERSUS $1.91 BILLION​

* STEEL DYNAMICS - DOMESTIC STEEL INDUSTRY BENEFITED IN 2017 FROM IMPROVEMENT IN DEMAND, AS AUTOMOTIVE SECTOR REMAINED STRONG, & CONSTRUCTION, ENERGY SECTORS IMPROVED

* STEEL DYNAMICS - "CONFIDENT" CURRENT AND ANTICIPATED MACROECONOMIC AND MARKET CONDITIONS ARE IN PLACE TO BENEFIT DOMESTIC STEEL CONSUMPTION IN 2018

* DOMESTIC STEEL INVENTORY LEVELS HAVE MODERATED

* WORLD STEEL DEMAND AND PRICING HAVE STRUCTURALLY IMPROVED AND DOMESTIC STEEL DEMAND REMAINS HEALTHY

* BELIEVE NORTH AMERICAN AUTOMOTIVE STEEL CONSUMPTION WILL BE STEADY, AND WILL CONTINUE TO GAIN MOMENTUM IN THAT SECTOR

* THERE WILL BE CONTINUED ADDITIONAL GROWTH IN CONSTRUCTION AND ENERGY SECTORS Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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