On September 18, Nucor declined 3.13% in regular trading, trading at $256.94/share, with turnover of approximately $86.73 million. The drop was triggered by the company's Q3 earnings guidance coming in well below consensus estimates.

Nucor projected Q3 earnings per share of $5.55 to $5.65, a significant increase from $2.63 in the year-ago quarter but notably below the FactSet analyst consensus of $6.01. The shortfall is particularly striking given that Nucor had posted a strong Q2, with adjusted EPS of $4.84 beating estimates of $4.46 by 10.5% on revenue of $10.40 billion, and had guided for higher Q3 earnings versus Q2 at that time.

Separately, Nucor maintained its quarterly dividend at $0.56 per share, payable November 10. Goldman Sachs modestly trimmed its price target to $302 from $304 while keeping a Buy rating. The broader Steel and Iron sector traded lower on the session, with peers Steel Dynamics down 1.45%, Cleveland-Cliffs down 0.78%, and Reliance Steel down 0.64%. Full Q3 results are scheduled for release on October 26.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)