Nucor Corporation (NYSE:NUE) today announced guidance for its third quarter ending
One-Time Non-Cash Charges
Reflected in the third quarter of 2024 non-adjusted earnings guidance range are estimated one-time non-cash pre-tax charges of approximately
Third Quarter of 2024 Commentary
Excluding the previously mentioned one-time charges, the largest driver for the expected decrease in earnings in the third quarter of 2024 as compared to the second quarter of 2024 is the decreased earnings of the steel mills segment, due primarily to lower average selling prices. The steel products segment is expected to have decreased earnings in the third quarter of 2024 as compared to the second quarter of 2024 due to lower average selling prices and lower volumes. Earnings in the raw materials segment are expected to decrease in the third quarter of 2024 as compared to the second quarter of 2024.
During the third quarter, Nucor has repurchased approximately 2.5 million shares at an average price of
Third Quarter of 2024 Earnings Release and Conference Call
Nucor will release its earnings after the markets close on
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