Nucor Expects Record Earnings in Q1 of 2021
Charlotte North Carolina US headquartered Nucor Corporation expects first quarter earnings to be in the range of USD 3.00 to USD 3.10 per diluted share. First quarter of 2021 earnings are expected to be the highest quarterly earnings in Nucor history, surpassing the previous record set in the third quarter of 2008. Nucor said “March is expected to be the strongest month of the quarter. Margins have expanded since the beginning of the year, a trend we expect to continue into the second quarter. We believe earnings in the second quarter of 2021 will likely set a new record for quarterly earnings.”
Nucor added “All three Nucor segments are generating strong results. The steel mills and raw materials segments' first quarter of 2021 results are expected to be significantly higher than the previous quarter due to strong steel demand and higher prices. All the product groups in the steel mills segment are forecasting higher first quarter results compared to the fourth quarter of 2020, with the largest increases coming from our sheet and plate mills. The Company is experiencing strong demand across most of its end markets, including non residential construction, automotive, renewable energy, heavy equipment and agriculture.”
Nucor's first quarter of 2021 guidance range compares to fourth quarter of 2020 earnings of USD 1.30 per diluted share and first quarter of 2020 earnings of USD 0.07 per diluted share.