Steel Mills
Nucor Expects Record First Quarter
Written by Sandy Williams
February 9, 2021
Nucor expects to generate record net earnings, exceeding $900 million, for the first quarter of 2021. The company cites strong business conditions across its end-use markets.
“We are encouraged by positive economic trends and the robust demand we are seeing across our markets,” said President and CEO Leon Topalian. “We currently expect our first-quarter 2021 results to significantly exceed Nucor’s previous record for quarterly net earnings, set in 2008. As we move through 2021, we remain focused on building on our momentum, meeting and exceeding our customers’ needs, and delivering sustainable value creation for Nucor stockholders.”
Higher prices and shipment volumes at Nucor’s sheet, plate, bar and structural mills bode well for increased profits in the first quarter compared to Q4 2020. The raw materials segment is projected to significantly improve due to higher selling prices and results in the downstream steel products segment are expected to be similar to the previous quarter, the company said.
Net earnings in the fourth quarter of 2020 totaled $398.8 million with sales up 7% and shipments up 3% from Q3 2020.
Sandy Williams
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