Nucor(US:NUE) Prnewswireยท2024-12-16 22:04Core Viewpoint - Nucor Corporation anticipates a decline in fourth quarter earnings for 2024, projecting earnings per diluted share between $0.55 and $0.65, down from $1.05 in the third quarter of 2024 and $3.16 in the fourth quarter of 2023 [1][3]. Earnings Guidance - The expected decrease in earnings is primarily driven by reduced earnings in the steel mills segment due to lower volumes and average selling prices [3]. - The steel products segment is also expected to see a decrease in earnings compared to the third quarter of 2024, attributed to similar factors [3]. - Conversely, the raw materials segment is projected to experience an increase in earnings in the fourth quarter of 2024, excluding the impairment charge from the third quarter [3]. Share Repurchase and Return to Shareholders - Nucor has repurchased approximately 2.1 million shares at an average price of $149.81 per share during the fourth quarter, totaling about 13.1 million shares year-to-date at an average price of $168.75 per share [4]. - The company has returned over $2.73 billion to shareholders through share repurchases and dividends year-to-date [4]. Upcoming Earnings Release - Nucor will release its fourth quarter earnings after market close on January 27, 2025, followed by a conference call on January 28, 2025, at 10:00 a.m. Eastern Time [5]. Company Overview - Nucor Corporation is a leading manufacturer of steel and steel products, operating in the United States, Canada, and Mexico, producing a wide range of steel products including carbon and alloy steel, structural tubing, and various fabricated steel products [6]. - The company is also recognized as North America's largest recycler, engaging in the brokerage of ferrous and nonferrous metals [6].