January 30, 2018 / 2:18 PM / 6 months ago

BRIEF-Nucor Reports Q4 Earnings Per Share $1.20

Jan 30 (Reuters) - Nucor Corp:

* NUCOR REPORTS RESULTS FOR FOURTH QUARTER AND YEAR ENDED 2017

* Q4 SALES $5.09 BILLION VERSUS I/B/E/S VIEW $4.88 BILLION

* Q4 EARNINGS PER SHARE VIEW $0.76 — THOMSON REUTERS I/B/E/S

* AVERAGE SCRAP AND SCRAP SUBSTITUTE COST PER TON USED IN THE FOURTH QUARTER OF 2017 WAS $317, UNCHANGED FROM THE THIRD QUARTER OF 2017

* TOTAL TONS SHIPPED TO OUTSIDE CUSTOMERS WERE 6,542,000 TONS IN Q4 OF 2017 AN INCREASE OF 13% FROM Q4 OF 2016

* ‍QTRLY AVERAGE SALES PRICE PER TON WAS COMPARABLE WITH Q3 OF 2017 AND INCREASED 14% COMPARED TO Q4 OF 2016​

* NUCOR - INCLUDED IN Q4 RESULTS WAS A NET BENEFIT OF $175.2 MILLION, OR $0.55 PER SHARE, RELATED TO IMPACTS OF U.S. FEDERAL TAX LEGISLATION

* IMPORTS CONTINUE TO NEGATIVELY IMPACT U.S. STEEL INDUSTRY

* WEAKNESS IN PLATE STEEL NEGATIVELY IMPACTED EARNINGS OF STEEL MILLS SEGMENT IN Q4 OF 2017 AS COMPARED TO Q3 OF 2017

* EARNINGS IN Q1 OF 2018 ARE EXPECTED TO INCREASE COMPARED TO Q4 OF 2017, EXCLUSIVE OF BENEFIT RECORDED IN Q4 OF 2017 RELATED TO TAX REFORM

* NUCOR- FOR Q1 2018, THERE IS SIGNIFICANT OPTIMISM IN STEEL END USE MARKETS , ENCOURAGED BY POSITIVE PRICING MOMENTUM BUILDING THROUGHOUT QUARTER

* Q1 OF 2018 RESULTS WILL BE NEGATIVELY IMPACTED BY HIGHER SCRAP PRICES AND WEATHER RELATED INTERRUPTIONS AT SOME OF CO’S SHEET MILLS

* ‍EXPECT EARNINGS IN RAW MATERIALS SEGMENT IN Q1 OF 2018 TO IMPROVE COMPARED TO Q4 OF 2017​

* IN Q1, EXPECT DECREASED EARNINGS IN STEEL PRODUCTS SEGMENT DUE TO TYPICAL SEASONALITY Source text for Eikon: Further company coverage:

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