Nucor Issues Q4 Profit Outlook Below Street View

(RTTNews) - Nucor Corporation (NUE) Monday said it expects fourth-quarter earnings to be in the range of $0.55 to $0.65 per share.

Nucor reported net earnings of $1.05 per diluted share in the third quarter of 2024 and $3.16 per diluted share in the fourth quarter of 2023.

The company said the largest driver for the expected decrease in earnings in the fourth quarter is the decreased earnings of the steel mills segment caused by decreased volumes and lower average selling prices.

The company expects earnings in the steel products segment to decrease in the fourth quarter of 2024 as compared to the third quarter of 2024 due to decreased volumes and lower average selling prices.

Analysts polled by Thomson Reuters expected earnings of $0.87 per share.