Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Nucor    NUE

NUCOR (NUE)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

NUCOR CORP. : Nucor Announces Guidance For Its Second Quarter Earnings

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/15/2010 | 03:05pm CET

CHARLOTTE, N.C., June 15 /PRNewswire-FirstCall/ -- Nucor Corporation (NYSE: NUE) announced today guidance for its second quarter ending July 3, 2010. Nucor expects second quarter results to be in the range of $0.20 to $0.25 per diluted share, compared to earnings of $0.10 per diluted share in the first quarter of 2010 and a loss of $0.43 per diluted share in the second quarter of 2009. Consistent with the qualitative guidance given in late April, operating results excluding LIFO have improved significantly over the first quarter. Operating rates at our steel mills are similar to the first quarter, with some improvements at the beam mills and plate mills. The improved operating results are primarily due to increased margins.

Projected second quarter results include an estimated LIFO charge of $47 million compared to a charge of $24 million in the first quarter of 2010 and a credit of $125 million in the second quarter of 2009. The estimated LIFO charge is higher than anticipated at the time we gave our qualitative guidance.

As expected, the most challenging markets for our products continue to be those associated with residential and non-residential construction, which continue to show little, if any, strength. This is particularly true for our downstream businesses.

Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties. The words "believe," "expect," "project," "will," "should" and similar expressions are intended to identify those forward-looking statements. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) the sensitivity of the results of our operations to prevailing steel prices and the changes in the supply and cost of raw materials, including scrap steel; (2) market demand for steel products; (3) energy costs and availability; and (4) competitive pressure on sales and pricing, including pressure from imports and substitute materials. These and other factors are outlined in Nucor's regulatory filings with the Securities and Exchange Commission, including those in Nucor's December 31, 2009 Annual Report on Form 10-K. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them.

SOURCE Nucor Corporation


© PRNewswire 2010
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NUCOR
02/20NUCOR : Announces 180th Consecutive Cash Dividend
PR
02/20NUCOR : Today’s Research Reports on Trending Tickers: Nucor Corporation and Arce..
AC
02/17U.S. Makers of Aluminum, Steel Face High Hurdles
DJ
02/14INSIDER TRADING ACTIVITY NUCOR CO. ( : NUE) – Chairman Sold 14,313 shares ..
AQ
02/14NUCOR : Womble named Emergency Management Director
AQ
02/14NUCOR : Incentives contribute to growth
AQ
02/09NUCOR : Free Research Report as Nucor’s Quarterly Sales Surged 29%; EPS Soared 1..
AC
02/07CARBON AND CERTAIN ALLOY STEEL WIRE : Initiation of Anti-Circumvention Inquiry ..
AQ
01/30AK STEEL : U.S. Steel Producers Rally Around Price Hikes
DJ
01/30NUCOR CORP : Results of Operations and Financial Condition, Financial Statements..
AQ
More news
News from SeekingAlpha
02/20Nucor declares $0.38 dividend 
02/19China to retaliate against U.S. metal tariffs 
02/16Commerce Department recommends major tariffs on steel and aluminum 
02/13Steel sector moving as Trump calls for tariffs to fix 'decimated' industry 
02/13PLATTS : Major U.S. steel mills raising rebar prices by $25/ton