Nucor (NUE) expects second-quarter earnings to decline sequentially and has returned over $1.76 billion to stockholders so far in 2024.
Financial forecasts from Steel Dynamics, United States Steel, and Nucor show weakening profitability for U.S. producers of the metal.
Nucor Corporation (NYSE:NUE) announced its second-quarter outlook on Friday but it failed to uplift investor sentiment. The steel maker cautioned that it expects earnings of $2.20 to $2.30 per diluted share, significantly lower than $5.81 in the year-ago period. The earnings expectations fell short of the $2.99 consensus. Lower average selling prices and lackluster volumes at the steel mills segment are driving the expected decrease in earnings. In addition, the steel products segment also bears