9/17/2015 12:05:00 AM
NEWS BRIEFS
Nucor Upbeat About Downstream Products in Q3

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Nucor Corp. announced guidance for its third quarter results, which are expected to fall short of the previous year’s numbers. Q3 results are expected to be in the range of $0.45 to $0.50 per diluted share, down from the $0.76 per diluted share in the third quarter of 2014 but up from Q2 earnings of $0.39 per diluted share.

Overall operating performance at the steel mills segment in Q3 is expected to increase from the second quarter of 2015, with margins improving as steel mills benefit from an average lower cost of inventory. “The automotive market remains strong, while nonresidential construction markets are continuing to gradually improve,” the steelmaker stated. “Energy, heavy equipment and agricultural markets remain weak. 

“Steel prices and margins remain under pressure from exceptionally high levels of imports that continue to flood the domestic market.”

Nucor said the operating performance of the downstream products segment, including fasteners, improved in Q3. The downstream products segment’s profitability in the first nine months of 2015 has “significantly” improved, boosted by continuing gradual improvement in nonresidential construction markets. Web: nucor.com