Nucor Corporation announced today guidance for its fourth quarter ending December 31, 2017. Nucor expects fourth quarter results to be in the range of $0.50 to $0.55 per diluted share, a decrease compared to Q3 2017 consolidated net earnings of $0.79 per diluted share and comparable to Q4 2016 earnings of $0.50 per diluted share.
In a press release, Nucor said overall market demand in the fourth quarter of 2017 has been “solid,” but expected fourth quarter of 2017 earnings in the steel mills segment will be “negatively impacted by margin compression as the import surge experienced in the summer of 2017 has been working its way through end markets over the last half of the year.”
Additionally, the company said it is encouraged by market conditions heading into 2018: “We see recently announced price increases and the downward trend in imports late in the year from the mid-year peak as factors building positive momentum.”