Nucor Corporation has announced guidance for its second quarter ending July 4th 2009. Nucor expects second quarter results to be in the range of a loss of USD 0.55 to USD 0.65 per diluted share. By comparison, Nucor reported a loss of USD 0.60 per share in the first quarter of 2009 and earned USD 1.94 per share in the second quarter of 2008.
Mr Dan DiMicco chairman, CEO & president of Nucor said that "Order entry has improved in recent weeks. Nevertheless, the economic outlook remains very uncertain in light of the continuing severe structural challenges facing the US and global economies. We believe this period of economic and steel industry distress will present unusually attractive growth opportunities for Nucor. Our team is already capitalizing on Nucor's position of strength, a position of strength arising from our balance sheet, low cost and highly flexible production capabilities, unrivaled product diversification, and most importantly, Nucor's extremely productive and innovative work force."
Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the US and Canada. Products produced include: carbon and alloy steel in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh.
