Nucor Sees Sequential Decline in Q3 Profit on Softer Volumes, Higher Costs

MT Newswires Live

09/18

Nucor (NUE) said late Wednesday it expects Q3 earnings of $2.05 to $2.15 per diluted share, compared with $2.60 in the previous quarter and $1.05 in the year-ago period.

Analysts surveyed by FactSet expect EPS of $2.57.

The steel manufacturer said the projected decline quarter over quarter was attributed to reduced volumes and margin pressure in its steel mills segment, higher costs in its steel products segment, and lower scrap processing profitability in its raw materials segment.

Shares of the company were down 4.8% in recent after-market hours activity.

Price: 136.00, Change: -6.80, Percent Change: -4.76

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