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Nucor cuts Q3 earnings guidance below consensus

Published 09/15/2017, 09:13 AM
© Reuters.  Nucor cuts Q3 earnings guidance below consensus
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  • Nucor (NYSE:NUE) -2.9% premarket after issuing downside Q3 guidance, expecting EPS of $0.75-$0.80 vs. $1.04 analyst consensus estimate and below EPS of $1.00 for Q2 and $0.95 for the year-ago quarter.
  • NUE says continued import pressure has not allowed pricing to keep pace with increasing raw material costs, and demand in plate end use markets has been "tepid."
  • NUE says its Louisiana plant has experienced unplanned outages for most of Q3, which will reduce Q3 earnings for the raw materials segment.
  • Lower in sympathy: AKS -1.8%, X -1.5%, STLD -1.2%, CLF -1%.
  • Now read: Cliffs - Are You Panicking?


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