Nucor Corporation has announced quarterly consolidated net earnings of USD 1.69 billion for July-September quarter of 2022 as against consolidated net earnings of USD 2.56 billion for the second quarter of 2022 and USD 2.13 billion for the third quarter of 2021. Nucor's consolidated net sales decreased 11% to USD 10.50 billion in the third quarter of 2022 compared with USD 11.79 billion in the second quarter of 2022 and increased 2% compared with USD 10.31 billion in the third quarter of 2021. Total steel mill shipments in the third quarter of 2022 decreased 9% as compared to the second quarter of 2022 and decreased 10% as compared to the third quarter of 2021. Steel mill shipments to internal customers represented 22% of total steel mill shipments in the third quarter of 2022, compared with 22% in the second quarter of 2022 and 21% in the third quarter of 2021. Downstream steel product shipments to outside customers in the third quarter of 2022 decreased 2% from the second quarter of 2022 and decreased 1% compared to the third quarter of 2021. A total of 6.415 million tons were shipped to outside customers in the third quarter of 2022 Average sales price per ton in the third quarter of 2022 decreased 3% compared with the second quarter of 2022 and increased 14% compared with the third quarter of 2021. Nucor said, “We expect fourth quarter of 2022 earnings to be decreased from the third quarter of 2022. 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 and lower volumes, with the largest decrease in profitability expected at our sheet mills. The steel products segment is expected to have another strong quarter in the fourth quarter of 2022, but the segment's profitability is anticipated to decrease from the third quarter of 2022 primarily due to typical seasonality experienced in the fourth quarter. 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 selling prices for raw materials.”
Nucor Corporation has announced quarterly consolidated net earnings of USD 1.69 billion for July-September quarter of 2022 as against consolidated net earnings of USD 2.56 billion for the second quarter of 2022 and USD 2.13 billion for the third quarter of 2021. Nucor's consolidated net sales decreased 11% to USD 10.50 billion in the third quarter of 2022 compared with USD 11.79 billion in the second quarter of 2022 and increased 2% compared with USD 10.31 billion in the third quarter of 2021. Total steel mill shipments in the third quarter of 2022 decreased 9% as compared to the second quarter of 2022 and decreased 10% as compared to the third quarter of 2021. Steel mill shipments to internal customers represented 22% of total steel mill shipments in the third quarter of 2022, compared with 22% in the second quarter of 2022 and 21% in the third quarter of 2021. Downstream steel product shipments to outside customers in the third quarter of 2022 decreased 2% from the second quarter of 2022 and decreased 1% compared to the third quarter of 2021. A total of 6.415 million tons were shipped to outside customers in the third quarter of 2022 Average sales price per ton in the third quarter of 2022 decreased 3% compared with the second quarter of 2022 and increased 14% compared with the third quarter of 2021. Nucor said, “We expect fourth quarter of 2022 earnings to be decreased from the third quarter of 2022. 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 and lower volumes, with the largest decrease in profitability expected at our sheet mills. The steel products segment is expected to have another strong quarter in the fourth quarter of 2022, but the segment's profitability is anticipated to decrease from the third quarter of 2022 primarily due to typical seasonality experienced in the fourth quarter. 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 selling prices for raw materials.”
