Nucor Releases Guidance for Q3

Nucor Releases Guidance for Q3

Nucor is looking forward to reporting a relatively good quarter. Today, the company unveiled its guidance for the current third quarter, saying that it expects earnings of $0.35 to $0.40 per diluted share. This would be a notable improvement over the previous quarter's $0.27, and should rival Q3 2012's $0.35.

The range is also broadly in line with the average analyst projection of $0.38.

Nucor cited improvement in the operating performance of its steel mills segment as a key reason for the expected EPS improvement. In the press release detailing its estimates, the company said that the profitability of sheet steel improved on a quarter-over-quarter basis "as a result of competitor supply disruptions, customer inventory restocking and some market demand improvement."

Nucor's third quarter ends on September 28.

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