Nucor Corporation today announced guidance for its second quarter ending July 2, 2022. Nucor expects second quarter earnings to be in the range of $8.75 to $8.85 per diluted share, which would surpass the previous quarterly earnings record of $7.97 per diluted share set in the fourth quarter of 2021. Nucor reported net earnings of $7.67 per diluted share in the first quarter of 2022 and $5.04 per diluted share in the second quarter of 2021.
In a press release, Nucor said end use market demand remains strong for steel and steel products, and the company remains confident that 2022 will be another year of very strong earnings and cash flow. Second quarter earnings will be driven by increased profitability in the steel products segment, which continues to benefit from robust demand in nonresidential construction markets, the statement said.
In addition, the steel mills segment earnings are expected to strengthen due primarily to increased profitability at Nucor’s bar, sheet and plate mills, the company said, adding that the raw materials segment is expected to generate increased profits in the second quarter due to relatively higher selling prices for raw materials.