Nucor Anticipates Significant Earnings Dip in Q4 2024

SEATTLE (Scrap Monster): Nucor Corporation, based in Charlotte, North Carolina, released their Q4 2024 financial results for the quarter that ended on December 31, 2024. Earnings for the fourth quarter are expected to be between $0.55 and $0.65 per diluted share, according to the business. In Q3 2024, Nucor recorded net earnings of $1.05 per diluted share, while in the same period the previous year, the company generated net earnings of $3.16 per diluted share.

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Due primarily to lower average selling prices and declining volumes, the company anticipates lower earnings from its steel mills segment. It is anticipated that the steel products segment's earnings will decrease during the course of the quarter. However, compared to the previous quarter, it is anticipated that the raw materials segment's profitability will rise in Q4 of this year.

It has repurchased almost 2.1 million shares at an average purchase price of $149.81 per share, according to a news statement from the firm. According to Nucor, it has distributed about $2.73 billion to its stockholders so far this year through dividend payments and share repurchases.

The company plans to report its Q4 2024 earnings on Monday, January 27, 2025, following market closure. Additionally, on Tuesday, January 28, 2025, at 10:00 AM Eastern Time, a conference call will be held.