3/19/2015 12:40:00 PM
NEWS BRIEFS
Nucor Cuts Guidance for Fastener Segment
Nucor Corp. reduced its guidance for first quarter 2015 results.
The U.S. steel manufacturer expects Q1 results to be in the range of $0.10 to $0.15 per diluted share, down from the first quarter of 2014 earnings of $0.35 per diluted share and a decrease from the fourth quarter of 2014 earnings of $0.65 per diluted share.
Nucor said the overall operating performance of the downstream products segment, including Nucor Fasteners, for the first quarter of 2015 is expected to decrease from the fourth quarter of 2014 due to “typical seasonality” experienced in the first quarter.
“However, the results of the downstream products segment in the first quarter of 2015 are expected to increase over the first quarter of 2014 due to both lower input costs and improved volumes, supporting the resiliency of the slow but steady growth in nonresidential construction markets.”
For 2014, cold finished steel sales, including results from Nucor Fastener, grew 6% to 504,000 tons, despite a 10% sales decline to 104,000 tons during the fourth quarter.
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