Steel Mills
Nucor Expects Favorable Demand, Pricing in 2019
Written by Tim Triplett
December 14, 2018
In fourth-quarter guidance on Friday, Nucor reported that it expects strong steel demand and favorable pricing to continue in 2019. Nucor benefitted from strong economic conditions in the United States throughout 2018, which were positively impacted by tax and regulatory reform. Additionally, broad-based tariffs imposed under Section 232 provided a tailwind that contributed to Nucor’s record 2018 earnings, the company said.
Nucor expects to report record full-year 2018 consolidated net earnings in the range of $7.25 to $7.30 per diluted share, an increase of 22 percent over the previous high.
“As we head into 2019, we continue to see strong demand and higher year-over-year average prices across most products,” said John Ferriola, Chairman, CEO and President of Nucor Corp.
Nucor’s focus remains on enhancing shareholder value through disciplined capital allocation, he added. Nucor returned more than $1.3 billion of capital to shareholders in 2018, including share repurchases of $854 million and dividends of $485 million.
Tim Triplett
Read more from Tim TriplettLatest 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.