Nucor Projects Record Q1 Earnings

(RTTNews) - Nucor Corp. (NUE) said it expects to achieve a new record for first quarter earnings in the range of $7.20 to $7.30 per share. Steel mill segment earnings in the first quarter are expected to decrease from the fourth quarter of 2021, primarily due to the decreased profitability of the sheet mills, the company said. The steel products segment is expected to generate increased earnings in the first quarter of 2022 relative to the fourth quarter of 2021. Earnings for the raw materials segment are expected to be in line with fourth quarter of 2021 performance.

The company said the continued solid demand across most end markets it serves combined with the strength of business model provide confidence that 2022 will be another very strong year.