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.
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