Nucor expects 2d-qtr. earnings to stay firm

Jun 20, 2014 | 02:06 PM | Michael Cowden

Tags  steel, earnings guidance, Nucor Corp., second quarter, DRI plant, direct reduced iron, steel sheet, steel plate nonresidential construction market

CHICAGO — Nucor Corp. expects second-quarter earnings to be roughly in line with first-quarter results as losses at the company’s direct-reduced iron (DRI) plant in Louisiana are offset in part by better demand for steel sheet and plate as well as an improving nonresidential construction market.

The Charlotte, N.C.-based steelmaker said in an earnings guidance June 20 that it anticipates second-quarter earnings of between 35 and 40 cents per diluted share, on the low end of previous expectations. That estimate is up from earnings of 27 cents per diluted share in the year-ago quarter and in line with 35 cents per diluted share recorded in the first three months of this....

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