Nucor Corporation (NUE) has announced its anticipated earnings for the fourth quarter, projecting a range of $0.55 to $0.65 per share. In the previous quarter (Q3 2024), Nucor recorded net earnings of $1.05 per diluted share, while in the fourth quarter of 2023, the net earnings were at $3.16 per diluted share.
The anticipated decline in fourth-quarter earnings is primarily attributed to reduced performance in the steel mills segment, driven by lower sales volumes and average selling prices. Similarly, the company foresees a decrease in earnings within the steel products segment for Q4 2024 when compared to Q3 2024, again due to diminished volumes and decreased average selling prices.
In contrast, analyst forecasts gathered by Thomson Reuters had predicted earnings of $0.87 per share for the same period.
