6/20/2014 3:54:00 PM
NEWS BRIEFS
Nucor Expects Modest Q2 Performance
Nucor Corp. said it expects second quarter results to be in the range of $0.35 to $0.40 per diluted share, up from the second quarter of 2013 earnings of $0.27 per diluted share and is comparable with first quarter of 2014 earnings of $0.35 per diluted share.
Nucor dubbed these results “at the low end” of company expectations.
“We currently expect some improvement in second quarter of 2014 earnings from the first quarter of 2014, excluding the impact of the tax and disposal of assets charges incurred in the first quarter.”
Included in the projected second quarter of 2014 results is approximately $21 million ($0.04 per diluted share) of additional employee stock-based compensation expense related to the timing of annual grants that are typically authorized each June.
During the opening quarter of 2014, Nucor reported cold finished steel sales, including results from Nucor Fastener, rose 13% to 138,000 tons.
Overall Nucor sales increased 12% to $5.11 billion, with net earnings grew 31% to $111 million compared to the first quarter of 2013 but declined 35% compared to $170.5 million in earnings reported in the fourth quarter of 2013. ©2014 GlobalFastenerNews.com
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