Nucor reports lower third-quarter results
Oct 18, 2012 | 10:22 AM
| Anne Riley
Tags
Nucor,
earnings,
steel,
Anne Riley
NEW YORK — Nucor Corp. reported a drop in earnings in the third quarter on the back of lower steel mill margins and shipments and said it expects to see further pressure on results in the fourth quarter.
“In addition to high import levels and excess domestic sheet supply, slowing economic growth both domestically and globally is expected to be a negative factor through the end of the year. Volatility in scrap prices, together with a combination of political and economic uncertainty in global markets, is impacting steel buyer confidence and therefore supply-chain stocking levels,” the Charlotte, N.C.-based steelmaker said Thursday in a fourth-quarter outlook statement released....
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