Leading US steel maker Nucor Corporation expects to generate record earnings for its first quarter ending April 3, 2021. Nucor believes its first quarter net earnings could exceed USD 900 million. Nucor's President and Chief Executive Officer Mr Leon Topalian said “We are encouraged by positive economic trends and the robust demand we are seeing across our markets. We currently expect our first quarter 2021 results to significantly exceed Nucor's previous record for quarterly net earnings, set in 2008. As we move through 2021, we remain focused on building on our momentum, meeting and exceeding our customers' needs, and delivering sustainable value creation for Nucor stockholders."
The Company's sheet & plate and bar & structural mills continue to forecast increased profitability in the first quarter of 2021 as compared to the fourth quarter of 2020. Realized prices and shipment volumes have increased for Nucor's steel mills in the first quarter as compared to the fourth quarter of 2020.
The profitability of the Company's downstream steel products segment is expected to be similar to the segment's results for the fourth quarter of 2020.
The raw materials segment's performance in the first quarter of 2021 is expected to be significantly improved as compared to the fourth quarter of 2020 due to higher raw materials selling prices.