Nucor Issues Positive Q1 Guidance Amid Volatile Prices

Nucor Corp., the largest steelmaker in the U.S., expects to achieve record first quarter earnings in the range of $7.20 to $7.30 per diluted share. That’s down from earnings of $7.97 per share in the prior quarter but double $3.10 per share in the same quarter last year.

Steel mill segment earnings in the quarter ending this month will be down from Q4 2021 primarily due to the decreased profitability of the sheet mills. While end-market demand remains strong, average realized selling prices in sheet have softened during the first quarter reflecting increased import volumes coupled with modest destocking, the company said.