Nucor Profit Forecast Misses Estimates as Steel Prices Decline
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Nucor Corp., the largest U.S. steel producer by market value, forecast first-quarter profit that missed analysts’ estimates as steel prices were expected to decline.
Earnings will be similar to the fourth quarter, when profit excluding a tax adjustment was 46 cents a share, the Charlotte, North Carolina-based company said today in a statement. That compares with the 65-cent average of 14 estimates compiled by Bloomberg.