Steel Mills
Nucor: Lower Earnings Expected in Q1
Written by Sandy Williams
March 15, 2019
Nucor anticipates earnings will decrease in the first quarter of 2019. In guidance remarks, the company cited lower average selling prices and margins in its sheet mill group for the decline.
Said Nucor, “We believe that sheet pricing reached the low point during the first quarter and are encouraged by the impact of recent price increases. Additionally, we are experiencing shipment delays to construction customers of our steel mills and steel products segments due to an unusually wet winter season.”
Nucor’s raw materials segment is also expected to report lower earnings compared to the fourth quarter due to margin compression in the DRI business from a decline in average selling prices.
The profitability of the steel products segment is expected to be relatively unchanged from the fourth quarter of 2018.
First-quarter earnings are expected to be in the range of $1.45 to $1.50 per diluted share, compared to $2.07 per share in Q4 2018 and $1.10 in Q1 2018.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Algoma fires up EAF steelmaking with first arc
Algoma Steel reached a milestone in its transformation from blast furnace to electric arc furnace (EAF) steelmaking, with its Unit One EAF achieving its first steel production this week.
Nucor holds HR list price at $910/ton
Nucor is keeping its list price for spot hot-rolled coil unchanged after last week’s shortened holiday week.
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.