Nucor Corporation announced today guidance for its first quarter ending March 31, 2018. Nucor expects first quarter results to be in the range of $1.00 to $1.05 per diluted share. This range is a decrease compared to the fourth quarter of 2017 consolidated net earnings of $1.20 per diluted share and first quarter of 2017 earnings of $1.11 per diluted share.
In a press release, Nucor said it expects earnings in the steel mills segment to be improved compared to the fourth quarter of 2017.
“Average selling prices have increased each month for all steel mill product groups thus far in 2018, and we expect that positive pricing momentum to continue into the second quarter. We believe there is significant optimism in steel end use markets, and we are encouraged by recent actions made by the Trump administration to address the massive flood of dumped and illegally subsidized imports into the United States.”
Nucor said it expects decreased earnings in the steel products segment in the first quarter of 2018 compared to the fourth quarter of 2017 due to typical seasonality, while earnings in the raw materials segment in the first quarter of 2018 are expected to improve compared to the fourth quarter of 2017.