Nucor Anticipates Dip in Q4 2023 Earnings

SEATTLE (Scrap Monster): Charlotte, N.C.-headquartered Nucor Corporation announced guidance for its results for the fourth quarter ending 31st December, 2023.

The company expects fourth quarter earnings to be in the range of $2.75 to $2.85 per diluted share. The company had reported net earnings of $4.57 per diluted share in the third quarter of 2023 and $4.89 per diluted share in the fourth quarter of 2022, said the company press release.

Nucor’s Q4 2023 earnings are likely to record decline over the sequential third quarter, mainly due to lower pricing and volumes across operating segments. In the steel mills segment, the company expects notable dip in realized pricing at its sheet and plate mills. Lower volumes and moderate average selling prices are likely to lead to decreased earnings in the steel products segment. The earnings for raw materials segment are forecast to be lower due to lower raw materials pricing and planned outages at its direct reduced iron (DRI) facilities.

The company will release its Q4 2023 earnings after the markets close on Monday, January 29, 2024. Also, it will host a conference call to review the quarterly results on Tuesday, January 30, 2024 at 10:00 a.m. Eastern Time.

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