Nucor Downgrades Earnings for Q4

Nucor offered fourth-quarter guidance on Wednesday, forecasting a decrease in earnings compared to the third quarter. Fourth-quarter results are expected to be in the range of $0.50 to $0.55 per diluted share compared to third-quarter consolidated net earnings of $0.79 per diluted share and comparable to year-ago earnings.

Imports continue to negatively impact the U.S. steel industry, said Nucor in its statement. Imports were up 19.4 percent in the first 10 months of 2017 compared to the same period in 2016. Imports of finished steel products accounted for an estimated 28 percent market share.