Steel Mills
December 17, 2013
Outages to Affect Nucor Q4 Results
Written by Sandy Williams
Planned outages and the collapse of the storage dome at Nucor Steel Louisiana negatively impacted earnings said Nucor in its fourth quarter guidance. Earnings per diluted share are expected to be in the range of $0.30-$0.40, down from third quarter 2013 earnings of $0.46 per diluted share and fourth quarter 2012 earnings of $0.43 per diluted share.
Sheet Steel profits are up due to higher sheet steel prices, competitor supply disruptions and improved demand and despite a three-week maintenance outage at the Berkeley County, South Carolina mill. Profits were offset, however by a reduced performance at Nucor’s bar and structural mills due to extended planned outages for capital projects at the SBQ mill in Norfolk, Nebraska and the structural mill in Blytheville, Arkansas.
