Nucor Corporation today announced guidance for its fourth quarter ending December 31, 2021. Nucor expects fourth quarter earnings to be in the range of $7.65 to $7.75 per diluted share. Fourth quarter of 2021 earnings are expected to be the highest quarterly earnings in Nucor history, surpassing the previous record of $7.28 per diluted share that was set in the third quarter of 2021.
In a press release, the company said the steel mills segment earnings in the fourth quarter of 2021 remain robust and are expected to be comparable to the third quarter of 2021 despite lower volumes caused by year-end seasonality.
Nucor said it expects the steel products segment to generate increased earnings in the fourth quarter of 2021 as demand in nonresidential construction markets remains strong.
Raw materials segment earnings are expected to decrease in the fourth quarter of 2021 as compared to the third quarter of 2021 primarily due to margin compression at the company’s direct reduced iron facilities, Nucor said.