Nucor Corp

NYSE:NUEUnited States

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• DJ Steel Industry Challenges on Display Amid Warning from Nucor -- Market Talk, from 4 hours ago by Dow Jones

  4 hours ago by Dow Jones
  Companies Mentioned: NUE, STLD
  1336 ET - Challenges throughout the steel industry don't appear to be slowing after the latest warning from Nucor, which said a combination of lower demand for steel and declining sales of steel construction materials would result in a steep drop in 3Q profit from a year earlier. This follows Steel Dynamics' recent forecast for lower quarterly profit due to weak demand and lower steel prices. Issues affecting the industry include higher interest rates and operating costs. Looking ahead to 4Q, analysts at BMO Capital Markets expect higher sheet prices to be offset by delayed contract prices. They cut their target price for Steel Dynamics to $127 due to mounting challenges throughout the industry at large. (denny.jacob@wsj.com; @pennedbyden) (END) Dow Jones Newswires September 17, 2024 13:36 ET (17:36 GMT)

• DJ U.S. Steelmakers Warn of Lower Profits as Manufacturers Slow Factories -- Update, from 4 hours ago by Dow Jones

  4 hours ago by Dow Jones
  Companies Mentioned: NUE, STLD
  
  By Bob Tita
  
  U.S. steelmakers projected lower quarterly profits, as automotive companies and equipment manufacturers dial down production.
  
  Charlotte, N.C.-based Nucor said Tuesday that lower demand for steel in a weakening manufacturing sector and falling sales of its steel construction materials would result in a roughly 80% decline in third-quarter profit, including one-time charges, from the same quarter last year. Indiana-based Steel Dynamics late Monday forecast lower quarterly profit as well, describing earnings from its steel business as being "meaningfully lower" from the prior quarter because of weak demand and lower steel prices.
  

• DJ U.S. Steelmakers Warn of Lower Profits as Manufacturers Slow Factories -- WSJ, from 4 hours ago by Dow Jones

  4 hours ago by Dow Jones
  Companies Mentioned: NUE, STLD
  
  By Bob Tita
  
  U.S. steelmakers projected lower quarterly profits, as automotive companies and equipment manufacturers dial down production.
  
  Charlotte, N.C.-based Nucor said Tuesday that lower demand for steel in a weakening manufacturing sector and falling sales of its steel construction materials would result in about an 80% decline in third-quarter profit, including one-time charges, from the same quarter last year. Indiana-based Steel Dynamics late Monday forecast lower quarterly profit as well, describing earnings from its steel business as being "meaningfully lower" from the prior quarter because of weak demand and lower steel prices.
  

• Nucor Announces Guidance for the Third Quarter of 2024 Earnings, from 6 hours ago by PR Newswire

  6 hours ago by PR Newswire
  Companies Mentioned: NUE

  Nucor Corporation (NYSE: NUE) today announced guidance for its third quarter ending September 28, 2024. Nucor expects third quarter earnings to be in the range of $0.87 to $0.97 per diluted share. After adding back certain one-time non-cash charges totaling approximately $0.43 per diluted share, described below, we expect third quarter adjusted earnings per diluted share to be in the range of $1.30 to $1.40. Nucor reported net earnings of $2.68 per diluted share in the second quarter of 2024 and $4.57 per diluted share in the third quarter of 2023.

• --BMO Capital Adjusts Nucor Price Target to $160 From $175, from 7 hours ago by MT Newswires

  7 hours ago by MT Newswires
  Companies Mentioned: NUE
  10:09 AM EDT, 09/17/2024 (MT Newswires) -- Price: 144.20, Change: +1.23, Percent Change: +0.86 ...