Steel Mills

Nucor Expects Best Q2 Since 2008

Written by Sandy Williams

Nucor Corp. expects second-quarter results to be somewhat weaker than the first quarter, but an improvement from second-quarter 2016. Results in the range of $1.00 to $1.05 per diluted share will be Nucor’s best second-quarter performance since 2008.

In guidance this week, Nucor noted a decrease in the performance of its sheet and bar mills compared to the first quarter due to aggressive competition. The company’s plate mills are showing improved profitability compared to the first quarter. Its downstream products segment will be stronger than the first quarter but weaker than second-quarter 2016.

Imports continue to negatively impact the U.S. steel industry, increasing 14 percent year-over-year in the first five months of 2017. The final determinations in the cut-to-length steel plate AD/CVD investigation is addressing the flood of imports in that market, said Nucor. The steelmaker also expects positive results in the ongoing cases on imports of rebar and steel wire rod.

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