Steel Dynamics (NASDAQ: STLD) reported Q4 EPS of $1.28, which may not compare to the analyst estimate of $0.52. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.22 billion.

• Lower pretax earnings of $7 million, or $0.02 per diluted share, related to debt refinancing and repayment charges,
• Lower pretax earnings of approximately $27 million, or $0.07 per diluted share, related to the company\'s two flat roll division planned outages, which resulted in higher costs and lower value-add shipments, as indicated in the company's December 15, 2017 guidance press release,
• A tax benefit of approximately $16 million, or $0.07 per diluted share, related to certain discrete valuation allowance reductions, state tax refunds and equity-based compensation, and
• An additional one-time tax benefit of $181 million, or $0.76 per diluted share, resulting from the company\'s revaluation of its deferred tax assets and liabilities in connection with the recently enacted U.S. Federal "Tax Cuts and Jobs Act of 2017" (TCJA). The company currently estimates the related reduction in its corporate tax rate will result in an effective tax rate of between 24 percent and 25 percent for 2018.

Outlook

"We remain confident that current and anticipated macroeconomic and market conditions are in place to benefit domestic steel consumption in 2018," said Millett. "Domestic steel inventory levels have moderated. 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 construction and energy sectors. We believe the recent tax reform will also provide a stimulus for additional domestic fixed asset investment and growth. In combination with our own SDI expansion initiatives, we believe there are firm drivers for growth in 2018."

"We continue to strengthen our financial position through strong cash flow generation and the execution of our long-term strategy. We are well-positioned for growth, and remain focused on delivering shareholder value through organic and strategic growth opportunities," concluded Millett

For earnings history and earnings-related data on Steel Dynamics (STLD) click here.