Nucor Corporation has announced guidance for its fourth quarter ending December 31, 2024. The company expects fourth quarter earning to be in the range of $0.55 to $0.65 per diluted share. Nucor reported net earnings of $1.05 per diluted share in the third quarter and $3.16 per diluted share in the fourth quarter of 2023.
According to its statement, the reason for the expected decrease in earnings is the decreased earnings of the steel mills segment caused by decreased volumes and lower average selling prices. The company expects earnings in the steel products segment to decrease in the fourth quarter of 2024 as compared to the third quarter of 2024 due to the same reasons. The earnings of the raw materials segment expected to increase in the fourth quarter of 2024 as compared to the third quarter of 2024.