You are here: Home > Steel News > Latest Steel News > Nucor...

Nucor expects fall in second quarter earnings

Thursday, 18 June 2015 17:20:33 (GMT+3)   |   Istanbul
       
US-based Nucor Corporation has announced its guidance for the second quarter ending July 4, 2015. Nucor expects second quarter results to be in the range of $0.20 to $0.25 per diluted share. This range is a decrease from the second quarter of 2014 earnings of $0.46 per diluted share and is comparable to the first quarter of 2015 earnings of $0.21 per diluted share.
 
Overall operating performance at the steel mills segment in the second quarter of 2015 is expected to decrease compared to the previous quarter. Nucor said that pricing has begun to stabilize, but the company experienced some margin erosion as the decrease in average sales prices during the quarter slightly outpaced the decrease in the average cost of raw materials consumed. Pricing remains under pressure from exceptionally high levels of imports that continue to flood the domestic market in the second quarter of 2015.
 
The ramp-up in production at the Louisiana direct reduced iron (DRI) facility has gone extremely well, with the facility operating near full capacity since mid-April. The raw materials segment performance is expected to benefit from improved performance of the scrap processing businesses. The performance of the DRI facility in Trinidad is expected to decrease in the second quarter of the current year compared to the previous quarter due to a 20-day planned outage that occurred during the second quarter.
 

Similar articles

Nucor expects lower net earnings for Q4

23 Oct | Steel News

Nucor: New OCTG trade case is “too little, too late”

19 Jul | Steel News

Nucor’s earnings falter amid “frustratingly challenging” conditions

19 Jul | Steel News

Nucor projects lower Q2 earnings

14 Jun | Steel News

Nucor anticipates challenging year ahead in sheet market

19 Apr | Steel News

Nucor reports lower earnings, sales and capacity utilization in Q1

19 Apr | Steel News

Nucor anticipates lower Q1 earnings amid weak flat steel market

15 Mar | Steel News

Nucor anticipates lower Q1 2013 earnings as full year 2012 income drops

30 Jan | Steel News

Nucor warns of lower Q4 earnings

19 Dec | Steel News

Lower steel prices and shipments push down earnings for Nucor in Q3

19 Oct | Steel News