Nucor Anticipates Record Year, but Comparatively Lower Q3 Results
For the quarter, the company is forecasting earnings to fall between US$6.30 and US$6.40 per diluted share. Nucor reported net earnings of US$9.67 per diluted share in the second quarter of 2022 and US$7.28 per diluted share in the third quarter of 2021.
The company said it expects results to be impacted by metal margin contraction and reduced shipping volumes at its mills, particularly its sheet and plate facilities. However, its steel products segment is expected to report another strong quarter, with earnings roughly in line with the second quarter of 2022, it said.
All told, Nucor said it believes 2022 will be its most profitable year ever.