Nucor guides Q1 EPS below consensus as steel products segment earnings to decline on lower average selling prices and volumes
- Co issues downside guidance for Q1 (Mar), sees EPS of $3.55-3.65 vs. $3.74 FactSet Consensus.
- Co noted that the steel mills segment's earnings are expected to increase in the first quarter of 2024 due to higher average selling prices and volumes, particularly at sheet mills.
- Earnings in the steel products segment are expected to decrease in the first quarter of 2024 due to lower average selling prices and decreased volumes.
- Co expects earnings in the raw materials segment in the first quarter of 2024 to be comparable to the fourth quarter of 2023 as improved performance of DRI facilities is offset by lower margins at scrap processing operations.