Charlotte North Carolina headquartered US’s leading steelmaker Nucor Corporation expects October-December 2022 quarter earnings to be in the range of USD 4.25-4.35 per diluted share as compared to net earnings of USD 6.50 per diluted share in the third quarter of 2022 and USD 7.97 per diluted share in the fourth quarter of 2021. Full year earnings for 2022 remains on track to exceed the record of USD 23.16 per diluted share Nucor set in 2021.Nucor said “In the steel mills segment, we expect considerably lower earnings in the fourth quarter of 2022 as compared to the third quarter of 2022 due to lower average selling prices, margin compression and lower volumes, with the largest decrease in profitability expected at our sheet mills. Shipments for our bar mills are expected to be lower due to seasonal factors with customers reducing inventories as year-end approaches.”Nucor also said “The steel products segment is expected to have strong earnings in the fourth quarter of 2022, but we expect the segment's earnings to decline moderately from the third quarter of 2022 on lower volumes and selling prices. While we believe these trends are mainly seasonal effects, economic uncertainty and recession concerns could impact future demand.”It added “The raw materials segment is expected to have significantly decreased earnings in the fourth quarter of 2022 as compared to the third quarter of 2022 due to decreased profitability of our DRI facilities, both of which experienced planned outages during the fourth quarter, and decreased selling prices for raw materials.”Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
Charlotte North Carolina headquartered US’s leading steelmaker Nucor Corporation expects October-December 2022 quarter earnings to be in the range of USD 4.25-4.35 per diluted share as compared to net earnings of USD 6.50 per diluted share in the third quarter of 2022 and USD 7.97 per diluted share in the fourth quarter of 2021. Full year earnings for 2022 remains on track to exceed the record of USD 23.16 per diluted share Nucor set in 2021.Nucor said “In the steel mills segment, we expect considerably lower earnings in the fourth quarter of 2022 as compared to the third quarter of 2022 due to lower average selling prices, margin compression and lower volumes, with the largest decrease in profitability expected at our sheet mills. Shipments for our bar mills are expected to be lower due to seasonal factors with customers reducing inventories as year-end approaches.”Nucor also said “The steel products segment is expected to have strong earnings in the fourth quarter of 2022, but we expect the segment's earnings to decline moderately from the third quarter of 2022 on lower volumes and selling prices. While we believe these trends are mainly seasonal effects, economic uncertainty and recession concerns could impact future demand.”It added “The raw materials segment is expected to have significantly decreased earnings in the fourth quarter of 2022 as compared to the third quarter of 2022 due to decreased profitability of our DRI facilities, both of which experienced planned outages during the fourth quarter, and decreased selling prices for raw materials.”Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
