Steel Mills

Nucor Guiding to Record Earnings for Q1 and Q2

March 16, 2021

Nucor expects first-quarter 2021 earnings to be the highest quarterly profits in the company’s history, surpassing the previous record set in the third quarter of 2008. Earnings are expected to be in the range of $3.00 to $3.10 per diluted share.

Strong steel demand and pricing are generating record results in the steel mills and raw materials segment, with all product groups forecasting improvement from the fourth quarter of 2020. The largest gains are expected in the sheet and plate mills.

Demand is robust across most end markets, the company said, including nonresidential construction, automotive, renewable energy, heavy equipment and agriculture.

“March is expected to be the strongest month of the quarter,” said Nucor in guidance remarks. “Margins have expanded since the beginning of the year, a trend we expect to continue into the second quarter. We believe earnings in the second quarter of 2021 will likely set a new record for quarterly earnings.”