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Nucor Tumbles After Warning of Lower US Steel Shipments Ahead

  • Largest US steelmaker sees shrinking margins in third quarter
  • Nucor guidance sees profit that’s below analysts’ expectations
Inside The Steel Making Process

Photographer: Roger Ball/Worldsteel/Getty Images

Nucor Corp. is sounding alarm bells that shipments of the key metal used from automobiles to skyscrapers will be reduced this quarter, signaling precarious demand across the US economy.

The largest American producer said Wednesday that it expects third-quarter earnings to range between $6.30 and $6.40 per share, falling short of the $7.74 per-share estimate by Wall Street analysts. Earnings from its steel mills would be “considerably lower” than the second quarter due to shrinking metal margins and declining shipments, the Charlotte, North Carolina-based producer said.