Nucor expects another quarter of record profits in Q3

Thursday, 16 September 2021 22:29:04 (GMT+3)   |   San Diego

Nucor Corporation (today announced guidance for its third quarter ending October 2, 2021. Nucor expects third quarter earnings to be in the range of $7.30 to $7.40 per diluted share. Third quarter of 2021 earnings are expected to be the highest quarterly earnings in Nucor history, surpassing the previous record of $5.04 per diluted share set in the second quarter of 2021.

In a press release, the company said all three operating segments continue to generate robust profitability as overall demand remains strong across most end-use markets.

Earnings of the steel mills segment are expected to increase significantly in the third quarter of 2021 as compared to the second quarter of 2021, mainly driven by higher realized selling prices.

Nucor also expects the steel products segment to generate significantly increased earnings in the third quarter of 2021 due to margin expansion caused by higher average selling prices.

The raw materials segment's earnings in the third quarter of 2021 are expected to be comparable to the second quarter of 2021, excluding an impairment charge recorded in the second quarter of 2021, Nucor said.

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