Nucor Corporation, largest steel manufacturer in US, has provided guidance for its second quarter ending July 1, 2023, anticipating earnings in the range of $5.45 to $5.55 per diluted share. This follows the company's net earnings of $4.45 per diluted share in the first quarter of 2023 and $9.67 per diluted share in the second quarter of the previous year.
Nucor expects notable improvement in earnings for the steel mills segment during the second quarter of 2023, primarily driven by margin expansion at their sheet mills. The steel products segment is also set to deliver robust results comparable to the first quarter of 2023. Furthermore, the raw materials segment is predicted to show improvement due to the enhanced profitability of Nucor's direct reduced iron.
Source: Steelguru
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