Nucor expects 1st-qtr. earnings drop

Mar 14, 2013 | 09:51 AM | Catherine Ngai

Tags  steel sheet, Nucor, steelmaker, earnings guidance, DRI, auto, energy, construction catherine ngai

NEW YORK — Nucor Corp. said it expects a decline in first-quarter earnings due to a lack of seasonal improvement as well as domestic scrap flow disruptions and an unplanned outage at its direct-reduced iron (DRI) facility.

The Charlotte, N.C.-based steelmaker is projecting net income of between 20 and 25 cents per diluted share for the three months ending March 30, down from 43 cents in the fourth quarter and 46 cents in the same period last year, it said in its first-quarter guidance released March 14.....

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