Nucor forecasts Q3 EPS USD 5.55-5.65
NUE•Nucor guides third-quarter earnings above Q2
- Nucor forecast third-quarter diluted EPS of USD 5.55 to USD 5.65.
- Second-quarter diluted EPS was USD 5.04; adjusted diluted EPS was USD 4.84.
- Q2 included a USD 61 million non-cash pre-tax benefit from a higher valuation of its Helion investment, equal to USD 0.20 per share.
- Steel mills and steel products earnings are expected to rise, while raw materials earnings are expected to fall on lower pricing and weaker shipments.
- Q2 steel mills results included USD 130 million in cash refunds tied to prior raw material procurement costs; no similar benefit is expected in Q3.
