Nucor Forecasts Q4 Earnings Decline
12/17/2024 - Nucor Corp. is cautioning that fourth-quarter earnings are expected to fall more than 80% over the same quarter last year.
Issuing its quarterly earnings guidance on Tuesday, Nucor, the largest U.S.-based steelmaker, said it is anticipating earnings of between 55 cents and 65 cents per diluted share, down from US$3.16 per diluted share in Q4 2023.
The company blamed lower average selling prices for its steel and lower volumes. The company also said earnings in its steel products segment are likely to decrease, relative to the third quarter of 2024, due to decreased volumes and lower average selling prices.
The company blamed lower average selling prices for its steel and lower volumes. The company also said earnings in its steel products segment are likely to decrease, relative to the third quarter of 2024, due to decreased volumes and lower average selling prices.
