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Nucor projects lower Q2 earnings

Friday, 14 June 2013 01:37:09 (GMT+3)   |   San Diego
       

Nucor Corporation provided Q2 2013 (ending June 29, 2013) earnings guidance Wednesday, indicating expectations that results will be in the range of $0.25 to $0.30 per share. This range is similar to Q1 2013 earnings of $0.26 per diluted share, but represents a decrease from Q2 2012 earnings of $0.35 per diluted share.

Compared to Q1 2013, overall operating performance in the steel mill segment is down, with weaker performance in sheet and structural steel, somewhat offset by improvement in plate. The fabricated construction products businesses (rebar fabrication, joist and decking and pre-engineered metal buildings) are projected to return to profitability in Q2 after the typical seasonal slowdown in Q1 led to a modest loss. The raw materials segment is also expected to report strong results in Q2, reflecting normalized operations at the Trinidad Direct Reduced Iron facility following an unplanned 18 day outage in Q1. Nucor also said that the strongest end markets continue to be in manufactured goods, including energy and automotive.


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