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Nucor projects record Q3 earnings

September 16, 2021 - Nucor Corp.offered guidance for its third quarter ending Oct. 2. The steelmaker expects third quarter earnings to be in the range of $7.30 to $7.40 per diluted share—the highest quarterly earnings in its history, surpassing the previous record of $5.04 per diluted share set in the second quarter of 2021.

All three operating segments continue to generate robust profitability as demand remains strong across most end-use markets. Earnings of the steel mills segment are expected to increase significantly in the third quarter, compared to the second quarter of 2021, mainly driven by higher realized selling prices. It expects the steel products segment to generate higher Q3 earnings due to margin expansion caused by higher average selling prices. The raw materials segment's earnings are expected to be comparable to the second quarter of 2021. Nucor’s internal business units' forecasts suggest that fourth-quarter 2021 results are likely to continue the trend of exceptional performance seen so far this year.

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