Nucor Forecasts Lower Q3 Earnings

09/15/2023 - Nucor Corp. said it expects its third-quarter earnings to decline by more than one-third on lower steel prices, the company said Thursday.

Nucor said earnings should fall somewhere between US$4.10 and US$4.20 per share during quarter, down from US$6.50 per diluted share in the same quarter last year.

Nucor said the decline is primarily due to lower pricing, and, to a lesser extent, volumes.