Steel Mills

Nucor Expects Higher Earnings for Q3

Written by Sandy Williams

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.

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