Steel Mills
Nucor Expects Higher Earnings for Q3
Written by Sandy Williams
September 14, 2018
Nucor is expecting earnings to improve from second to third quarter at its sheet and plate mills, despite weather-related outages at some locations. Lower sequential earnings are forecast at its steel products segment.
Decreased performance at Nucor’s scrap brokerage and processing operations and at the Louisiana DRI facility will result in lower earnings for the raw materials segment. Nucor’s Louisiana DRI facility experienced outages for much of the third quarter.
“We continue to believe there is sustainable strength in steel end-use markets,” said Nucor in its guidance press release.
Earnings are expected to be in the range of $2.35 to $2.40 per diluted share, compared to consolidated net earnings of $2.13 per diluted share in the second quarter and $0.79 per diluted share in Q3 2017.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.
Granite City Works must remain open and other terms of the Nippon-USS deal
SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.
USS shuffles some leadership roles after close of Nippon deal
USS shuffles leadership deck after deal closes with Nippon.
ArcelorMittal fires up steelmaking at Calvert mill
With the marking of the EAF’s first heat earlier this month, the mill has moved from a rerolling and finishing mill to a full steelmaking facility.