Nucor (NUE) announced guidance for its fourth quarter ending December 31, 2024. Nucor expects fourth quarter earnings to be in the range of 55c 65c per diluted share. Nucor reported net earnings of $1.05 per diluted share in the third quarter of 2024 and $3.16 per diluted share in the fourth quarter of 2023. “The largest driver for the expected decrease in earnings in the fourth quarter of 2024 is the decreased earnings of the steel mills segment caused by decreased volumes and lower average selling prices. We expect earnings in the steel products segment to decrease in the fourth quarter of 2024 as compared to the third quarter of 2024 due to decreased volumes and lower average selling prices. The earnings of the raw materials segment are expected to increase in the fourth quarter of 2024 as compared to the third quarter of 2024 (excluding the impairment charge taken during the third quarter of 2024).”
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