Steel Mills
January 28, 2021
Nucor Expects Even Better First Quarter
Written by Sandy Williams
Nucor, the industry’s largest steelmaker, is expecting a significant increase in earnings in the first quarter of 2021 following a strong fourth quarter with net earnings of $398.8 million. Fourth-quarter earnings outpaced the third quarter at $193.4 million and Q4 2019 at $107.8 million due primarily to higher pricing at Nucor’s sheet and plate mills.
Net sales increased 7 percent in Q4 to $5.26 billion and 3 percent from a year ago. Shipments were up 3 percent from the third quarter to 6.49 million tons and were similar to volumes in Q4 2019. Average sales price rose 5 percent compared to the third quarter.
