Steel Mills

Weather and Imports Will Impact Q1 Results for Nucor
Written by Sandy Williams
March 18, 2014
Nucor says weather and imports affected steel sales for first quarter 2014. Nucor revised its forecast for first quarter results downward from its guidance in fourth quarter 2013. Nucor expects a $0.53 decrease per diluted share in the first quarter ending April 5, 2014 as compared to fourth quarter 2013 earnings. Results are expected to be in the range of $0.30 to $0.35 per diluted share, an increase of $0.26 per diluted share from first quarter 2013.
“The larger factor impacting the first quarter was severe weather conditions, which has disrupted customer demand, decreased the amount of railcar availability and has exacerbated conditions in the seasonally weaker performance of our fabricated construction products businesses,” wrote Nucor in its guidance outlook. “Additionally, import levels have continued to negatively impact pricing and margins at our bar and sheet mills. Looking forward, we continue to see small but noticeable improvements in the nonresidential construction markets.”
Results for first quarter will include an estimated $14.5 million LIFO charge and a $9.0 million charge related to disposal of assets in the steel mills segment.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.

Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.

USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.

SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.

POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.