Steel Mills
Nucor Expects Higher Earnings for Q3
Written by Sandy Williams
September 14, 2018
Nucor is expecting earnings to improve from second to third quarter at its sheet and plate mills, despite weather-related outages at some locations. Lower sequential earnings are forecast at its steel products segment.
Decreased performance at Nucor’s scrap brokerage and processing operations and at the Louisiana DRI facility will result in lower earnings for the raw materials segment. Nucor’s Louisiana DRI facility experienced outages for much of the third quarter.
“We continue to believe there is sustainable strength in steel end-use markets,” said Nucor in its guidance press release.
Earnings are expected to be in the range of $2.35 to $2.40 per diluted share, compared to consolidated net earnings of $2.13 per diluted share in the second quarter and $0.79 per diluted share in Q3 2017.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor sees sequentially lower Q3 profits across all three business segments
Nucor's third-quarter earnings will be down quarter-over-quarter, but still higher than a year earlier.
Hyundai still on for Louisiana steel mill despite US raid at Georgia battery plant
Hyundai has reaffirmed its commitment to build a steel plant in Louisiana following a US government immigration raid at its battery facility in Georgia.
Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.
Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.
AHMSA opens doors to potential buyers as $1.3B asset auction nears
AHMSA is opening its doors to potential buyers to tour its steel plant and mining operations in northern Mexico in preparation for the next stage of its bankruptcy process: the auction of its assets.