Nucor sees Q4 EPS $4.25-$4.35, consensus $4.41

The company stated, "In the steel mills segment, we expect considerably lower earnings in the fourth quarter of 2022 as compared to the third quarter of 2022 due to lower average selling prices, margin compression and lower volumes, with the largest decrease in profitability expected at our sheet mills. Shipments for our bar mills are expected to be lower due to seasonal factors with customers reducing inventories as year-end approaches. The steel products segment is expected to have strong earnings in the fourth quarter of 2022, but we expect the segment’s earnings to decline moderately from the third quarter of 2022 on lower volumes and selling prices. While we believe these trends are mainly seasonal effects, economic uncertainty and recession concerns could impact future demand. The raw materials segment is expected to have significantly decreased earnings in the fourth quarter of 2022 as compared to the third quarter of 2022 due to decreased profitability of our DRI facilities, both of which experienced planned outages during the fourth quarter, and decreased selling prices for raw materials."