Steel Mills
Nucor: Lower Earnings Expected in Q1
Written by Sandy Williams
March 15, 2019
Nucor anticipates earnings will decrease in the first quarter of 2019. In guidance remarks, the company cited lower average selling prices and margins in its sheet mill group for the decline.
Said Nucor, “We believe that sheet pricing reached the low point during the first quarter and are encouraged by the impact of recent price increases. Additionally, we are experiencing shipment delays to construction customers of our steel mills and steel products segments due to an unusually wet winter season.”
Nucor’s raw materials segment is also expected to report lower earnings compared to the fourth quarter due to margin compression in the DRI business from a decline in average selling prices.
The profitability of the steel products segment is expected to be relatively unchanged from the fourth quarter of 2018.
First-quarter earnings are expected to be in the range of $1.45 to $1.50 per diluted share, compared to $2.07 per share in Q4 2018 and $1.10 in Q1 2018.
Sandy Williams
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