16
Sep
15:42
Nucor cuts third-quarter guidance
US steel producer Nucor has hacked down its projected earnings for the third quarter, Kallanish learns from company guidance.
Nucor expects to earn $0.75-0.80/share in Q3, down from $1.26/share in Q2 and $2.13/share in Q3 2018.
Q3 will carry an impairment charge of $110 million tied to the company’s natural gas assets, though the company’s earnings will also be affected by weak domestic steel conditions.
“The performance of the steel mill…
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Anonymous
Very good overview of the weekly steel market.
Anonymous