— Nucor Corporation’s (NYSE: NUE) earnings declined to $275 million or $0.90 per share in the third quarter of 2019 from $676.7 million or $2.13 per diluted share in the third quarter of 2018.
— Sales declined 7% to $5.46 billion in the third quarter versus $5.54 billion expected.
— Nucor’s earnings in the fourth quarter of 2019 are expected to decrease compared to the third quarter of 2019.
— Steel mills segment’s profit is expected to decrease in the fourth quarter of 2019 from the third quarter level, hurt by the lower steel prices at the end of the third quarter.
— Profitability of the steel products segment in the fourth quarter of 2019 is expected to decrease slightly from the third quarter of 2019.
— Performance of the raw materials segment is also expected to decline in the fourth quarter of 2019 compared to the third quarter of 2019.
— NUE stock, which plunged to a 52-week low ($46.10) in August, has stayed flat since the beginning of this year and was down 11% in the trailing 12-months period.