Steel Mills

Nucor guides to higher quarter-over-quarter Q1 profits
Written by Ethan Bernard
March 14, 2024
Nucor said on Thursday afternoon it expects higher profits in the first quarter vs. the previous quarter but lower than a year earlier.
The Charlotte, N.C.-based steelmaker announced guidance for Q1’24 ended March 30 in the range of $3.55 to $3.65 per diluted share. This is up from earnings of $3.16 per diluted share in Q4’23 but off from $4.45 per diluted share in Q1’23.
Nucor said the steel mills segment’s earnings are anticipated to rise in Q1’24 “due to higher average selling prices and volumes, particularly at our sheet mills.”
Meanwhile, earnings in the steel products segment are expected to fall in Q1’24 “due to lower average selling prices and decreased volumes.”
“We expect earnings in the raw materials segment in the first quarter of 2024 to be comparable to the fourth quarter of 2023 as improved performance of our DRI (direct-reduced iron) facilities is offset by lower margins at our scrap processing operations,” the company said in a statement.
Nucor said it will release Q1’24 earnings after the markets close on Monday, April 22.

Ethan Bernard
Read more from Ethan BernardLatest in Steel Mills

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.

USS Clairton begins full production of batteries 19 and 20, 13 and 14 hot idled
U.S. Steel has activated batteries 19 and 20 at its Clairton Coke Works facility after pausing each “out of an abundance precaution” following an explosion at the site on Aug. 11.

Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.