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Nucor provides guidance for first quarter earnings

March 16, 2017 - Nucor Corp. says its expected improvement in earnings in the first quarter of 2017 compared to the fourth quarter of 2016 is primarily due to the performance of its sheet and plate mills.

“We are encouraged by the renewed growth in demand we are seeing in both the nonresidential construction and energy markets. The heavy equipment markets remain weak. The automotive markets remain strong,” the Charlotte, North Carolina-based producer stated March 16.

Trade cases in cut-to-length plate and rebar are proceeding, which help to stop the flood of dumped and subsidized products from foreign producers, and ensure Nucor can compete on a level playing field.

Nucor Steel Louisiana recently resumed operations after experiencing an unplanned outage that began in early February caused by an equipment failure. In addition to making the necessary repairs resulting from the equipment failure, the team at Louisiana complete planned maintenance activities that were scheduled for later in the year.

Nucor projects increased profitability in its raw materials segment first quarter, compared with fourth-quarter 2016, due to higher performance at scrap processing and brokerage operations as at its direct reduced iron facility in Trinidad.

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