Steel Mills
Nucor Expects Record First Quarter
Written by Sandy Williams
February 9, 2021
Nucor expects to generate record net earnings, exceeding $900 million, for the first quarter of 2021. The company cites strong business conditions across its end-use markets.
“We are encouraged by positive economic trends and the robust demand we are seeing across our markets,” said President and CEO Leon Topalian. “We currently expect our first-quarter 2021 results to significantly exceed Nucor’s previous record for quarterly net earnings, set in 2008. As we move through 2021, we remain focused on building on our momentum, meeting and exceeding our customers’ needs, and delivering sustainable value creation for Nucor stockholders.”
Higher prices and shipment volumes at Nucor’s sheet, plate, bar and structural mills bode well for increased profits in the first quarter compared to Q4 2020. The raw materials segment is projected to significantly improve due to higher selling prices and results in the downstream steel products segment are expected to be similar to the previous quarter, the company said.
Net earnings in the fourth quarter of 2020 totaled $398.8 million with sales up 7% and shipments up 3% from Q3 2020.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor upbeat on progression of flat rolled expansions
Nucor isn’t overly concerned with low utilization rates or an oversupplied market, as its investment strategy is for the long term, executives reminded investors on Tuesday.
Nucor Q3 profit falls sharply on lower steel prices, further drop seen in Q4
Nucor's profits dropped precipitously in the third quarter on lower prices in its steel mills segment as the company expects a continued earnings slide for Q4'24.
Nucor holds HR base price at $720/ton
Nucor is holding its hot-rolled coil consumer spot price at $720/short ton this week.
Nucor commissions SMS group to upgrade Alabama plate mill
Nucor Corp. has commissioned SMS group to upgrade its Tuscaloosa, Ala., plate mill.
SDI presses on with steel, aluminum investments
Steel Dynamics Inc. remains optimistic about its prospects as it ramps up flat-rolled steel operations and prepares for the production of aluminum products next year. Executives from the Fort Wayne, Ind.-based steelmaker provided an update on the company’s operations on a conference call on Thursday held to discuss SDI’s third-quarter earnings results.