Steel Mills
October 22, 2020
Nucor Exceeds Expectations for Q3
Written by Sandy Williams
Nucor reported better than expected results for the third quarter of 2020. The company’s bar and structural mills led earnings, benefiting from a good nonresidential construction market. Joist and deck orders, quotes and backlogs are up year-over year with strong demand from nonresidential, including data and distribution center construction, company executives told investors and analysts during the quarterly conference call.
Automotive manufacturing continued its strong rebound in the third quarter, and the fourth quarter is expected to match or exceed demand. OEM inventory days-on-hand is at a 10-year low.
