Steel Mills
Nucor Expects Strong Earnings in Q2
Written by Sandy Williams
June 14, 2018
Nucor expects earnings for its second quarter to increase significantly compared to first-quarter 2018 due to higher average selling prices and increased profitability. Deregulation, tax reform and higher, stable oil prices have contributed to stronger market conditions, said Nucor in the company’s earnings guidance statement.
Profitability increased across all of Nucor’s steel mill product groups and its raw materials segment, with the strongest growth at the company’s sheet mills.
Nucor expects earnings per diluted share to be in the range of $2.05-$2.10, beating analyst estimates of $1.68 per share. EPS in the first quarter was $1.10 per diluted share and $1.00 per share in Q2 2017.
Said Nucor in a press release: “Based on the current steel market fundamentals and communications with our customers, we are confident in our belief that there is sustainable strength in steel end-use markets. Our steel mill and steel product backlogs are robust and have trended upward since the beginning of the year. We therefore expect strong performance and profitability to continue through the remainder of the year.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
USS confirms split CFIUS decision on Nippon deal; it’s now up to Biden
Nippon Steel's purchase of U.S. Steel could lead to lower steel output domestically, and that presents “a national security risk," the Washington Post reported.
USS/Nippon deal: Who will have the happiest holidays?
Will Santa bring gifts for the leadership, employees, and shareholders of U.S. Steel and Nippon Steel, and lumps of coal for USW leadership and politicians opposed to the deal?
‘Orderly liquidation’ of AHMSA assets begins
A trustee has formally taken over AHMSA and begun the liquidation process of the bankrupt Mexican steelmaker.
Nippon buying stake in Canadian iron ore project
Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.
USS anticipates Q4 loss on weak demand, BR2 start-up
Amid a challenging pricing and demand environment, and with the ongoing ramp-up of the Big River 2 mill, USS is anticipating a loss for the fourth quarter.