Financial forecasts from Steel Dynamics, United States Steel, and Nucor show weakening profitability for U.S. producers of the metal.
Nucor Corporation (NYSE: NUE) today announced guidance for its second quarter ending June 29, 2024. Nucor expects second quarter earnings to be in the range of $2.20 to $2.30 per diluted share. Nucor reported net earnings of $3.46 per diluted share in the first quarter of 2024 and $5.81 per diluted share in the second quarter of 2023.
It is hard to get excited after looking at Nucor's (NYSE:NUE) recent performance, when its stock has declined 15% over...