Nucor Corp. announced that they expect 2022 to be another strong year, and their first quarter earnings are predicted to surpass their 2021 first quarter earnings, achieving a new record of US$7.20 to US$7.30 per diluted share.
 
“We have recently announced price increases across the steel mills segment and expect profitability to improve. Recent geopolitical events and the resulting price increases for steelmaking raw materials have accentuated the value of Nucor's adaptive business model and flexible raw materials profile,” the company said in an official press release.
 
Excluding US$83 million spent in start-up costs for its new Sinton, Texas, USA, flat-rolled steel mill,  Steel Dynamics Inc. (SDI) said in its first quarter guidance that it expects to report adjusted earnings in the range of US$5.55 to US$5.59 per diluted share. This is an increase from their reported US$5.49 per diluted share in fourth quarter 2021.
 
“First quarter 2022 earnings from the company’s metals recycling operations are expected to be aligned with sequential fourth quarter results, based on improved metal margins offsetting modestly lower volume,” SDI said.