Industry News

Nucor Q1 2021 Earnings to be the Highest in its History

Views : 178
Update time : 2021-03-17 21:38:47

Charlotte, N.C.-headquartered Nucor Corporation announced guidance for its first quarter of 2021 ending on 3rd April, 2021. The company expects the quarterly earnings to be highest in the company’s history, exceeding the previous record set in Q3 2008. Akso, March is expected to be the strongest month of the quarter.

Nucor expects Q1 earnings to range between $3.00 and $3.10 per diluted share. The guidance range compares with Q4 2020 earnings of $1.30 per diluted share and Q1 2020 earnings of $0.07 per diluted share. The company foresees strong cash flow from operations during the quarter, which will help it to take the liquidity at the end of the quarter to more than $4.5 billion. This is inclusive of the company’s $1.5 billion undrawn revolving credit facility, the company press release said.

The strong steel demand and higher prices are likely to help the steel mills and raw materials segments to deliver significantly higher results than the previous quarter. The results from all product groups in steel mills segment, especially sheet and plate mills, are expected to remain high, mainly due to strong demand from across end markets.

The company expects the trend to continue into the second quarter, with earnings likely to set a new record in Q2 2021.

Related News
Read More >>
US makes preliminary CVD ruling on China’s aluminum sheets US makes preliminary CVD ruling on China’s aluminum sheets
Jun .18.2025
US makes preliminary CVD ruling on China’s aluminum sheets
Ghana poised for aluminum hub status after GIADEC secures 6 bauxite leases Ghana poised for aluminum hub status after GIADEC secures 6 bauxite leases
Jun .18.2025
Ghana poised for aluminum hub status after GIADEC secures 6 bauxite leases
Japan's Godo Steel contracts Danieli for major bar mill modernization in Himeji Japan's Godo Steel contracts Danieli for major bar mill modernization in Himeji
Jun .18.2025
Japan's Godo Steel contracts Danieli for major bar mill modernization in Himeji
Tata Steel sets target to produce 15 million tons of recycled steel in next 10 to 15 years Tata Steel sets target to produce 15 million tons of recycled steel in next 10 to 15 years
Jun .18.2025
Tata Steel sets target to produce 15 million tons of recycled steel in next 10 to 15 years