• Skip to main content

    Market Segment

    September 14, 2023

    Nucor Sees Lower Q3 Earnings, Sheet Mills Take a Hit

    Written by Ethan Bernard

    Nucor expects third-quarter earnings to be lower sequentially and on-year, the steelmaker said in earnings guidance on Thursday.

    The company reported it expects earnings in the quarter ended Sept. 30 to be in the range of $4.10 to $4.20 per diluted share. This compares with net earnings of $5.81 per diluted share in Q2’23 and $6.50 per diluted share a year earlier.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

    Read more from Ethan Bernard

    Latest in Market Segment

    Price on Trade: Milwaukee Framework is a step forward on steel excess capacity

    Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin last week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin Principles.” It is also a positive step in the ongoing battle against global steel market distortions. However, the Framework is only a guidepost. It must be implemented correctly to make an impact as new problems loom.