Nucor Lowers 4th Quarter Outlook

John Wolz

Nucor Corporation reduced its fourth quarter earnings expectations due to “the weak pricing environment for steel products and diminished non-residential construction.”
Nucor expects fourth quarter net earnings to be in the 15� to 20� per share range, compared with the third quarter net of 26�.
“Current steel prices reflect the impact of the illegal dumping of imports during the last few years,” CEO Dan Dimicco said. Nucor has announced price increases for sheet products in January. �2001 FastenerNews.com