Steel Mills

Nucor Expects Record Earnings in Fourth Quarter
Written by Tim Triplett
December 15, 2021
Nucor Corp. expects earnings this quarter to be the highest in the company’s history, surpassing the previous quarterly record of $7.28 per diluted share in the third quarter of 2021. The Charlotte, N.C.-based steelmaker predicted fourth-quarter earnings would be in the range of $7.65 to $7.75 per share.
“Steel mill segment earnings in the fourth quarter of 2021 remain robust and are expected to be comparable to the third quarter of 2021 despite lower volumes caused by year-end seasonality,” the company said in earnings guidance released Wednesday, Dec. 15.
“We expect the steel products segment to generate increased earnings … as demand in nonresidential construction markets remains strong.”
Nucor expects earnings in its raw materials segment to decrease from the third to the fourth quarter primarily due to margin compression at its direct reduced iron (DRI) facilities.
“As we approach the end of the most profitable year in Nucor’s history, demand continues to be strong in most of the end markets we serve. We are confident that 2022 will be another year of strong profitability for Nucor,” the company said.
During 2021, Nucor has repurchased approximately 33.8 million shares at an average price of $96.92 per share, returning more than $3.7 billion to stockholders in the form of share repurchases and dividend payments year-to-date.
By Tim Triplett, Tim@SteelMarketUpdate.com

Tim Triplett
Read more from Tim TriplettLatest in Steel Mills

Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!

AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).

Domestic mill shipments slip in July: AISI
US steel shipments decreased month over month in July, but were up from last year, according to the latest figures from the American Iron and Steel Institute (AISI).

Nippon and USS drop litigation vs. USW and Cliffs
Another chapter of the Great U.S. Steel Buyout of the 2020s melodrama has closed, with all involved parties terminating the litigation disputes between them.

Steel Summit: Analysts say demand likely to struggle until 2027
Steel industry analysts at this year's SMU Steel Summit said they see lackluster demand through this year and next.