Steel Mills
Nucor Expects Favorable Demand, Pricing in 2019
Written by Tim Triplett
December 14, 2018
In fourth-quarter guidance on Friday, Nucor reported that it expects strong steel demand and favorable pricing to continue in 2019. Nucor benefitted from strong economic conditions in the United States throughout 2018, which were positively impacted by tax and regulatory reform. Additionally, broad-based tariffs imposed under Section 232 provided a tailwind that contributed to Nucor’s record 2018 earnings, the company said.
Nucor expects to report record full-year 2018 consolidated net earnings in the range of $7.25 to $7.30 per diluted share, an increase of 22 percent over the previous high.
“As we head into 2019, we continue to see strong demand and higher year-over-year average prices across most products,” said John Ferriola, Chairman, CEO and President of Nucor Corp.
Nucor’s focus remains on enhancing shareholder value through disciplined capital allocation, he added. Nucor returned more than $1.3 billion of capital to shareholders in 2018, including share repurchases of $854 million and dividends of $485 million.
Tim Triplett
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