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Nucor warns of lower Q4 earnings

Wednesday, 19 December 2012 11:36:52 (GMT+3)   |   San Diego
       

On Tuesday, Nucor announced guidance for its Q4 ending December 31, 2012. The company exports Q4 results to be in the range of $0.25 to $0.30 per diluted share, representing a decrease from Q3 earnings of $0.35 per diluted share and also down from Q4 2011 earnings of $0.43 per diluted share. Nucor said that Q4 earnings will include certain charges associated with the acquisition of Skyline Steel and a loss on the sale of the assets of Nucor Wire Products Pennsylvania.

Additionally, the company said the profitability decreased in Q4, as anticipated, compared to Q3. The decrease is mainly due to a smaller LIFO credit in Q4 and lower margins in the steel business. Lower steel mill margins are primarily impacting the bar and plate mills, reflecting the cumulative impact of high import levels and general economic uncertainty, Nucor said. Sheet mills margins are improved in Q4 after bottoming in Q3 2012.


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