Steel Dynamics sees Q4 EPS 48c-52c, consensus 55c
"Despite a lower sequential fourth quarter earnings result, we remain confident that macroeconomic and market conditions are in place to benefit domestic steel consumption in 2018," said Mark Millett, president and CEO. "Domestic steel inventory levels have moderated as the overhang from "pre-232" imports has dissipated. World steel demand and pricing have structurally improved and domestic steel demand remains healthy. We believe North American automotive steel consumption will be steady, and we continue to gain momentum in that sector. We also believe that there will be continued additional growth in the energy and construction sectors, including heavy equipment. In combination with our own SDI initiatives, we believe there are firm drivers for growth in 2018."