Steel Dynamics, Inc. provided earnings guidance for the year 2018. For the year, the company expects effective tax rate, federal and state combined, is between 24% and 25%, which is a meaningful decrease from recent history where it is closer to 35%. Excluding these items, the company still achieved record annual net income of $641 million or $2.65 per diluted share. Capital expenditures expect to be somewhere around $250 million for the year.