Nucor guides Q2 EPS below consensus (154.12)
- Co issues downside guidance for Q2 (Jun), sees EPS of $2.20-2.30 vs. $3.00 FactSet Consensus.
- The largest driver for the expected decrease in earnings in Q2 vs Q1 is the decreased earnings of the steel mills segment, due primarily to lower average selling prices, and, to a lesser extent, lower volumes.
- The steel products segment is expected to have decreased earnings in Q2 vs Q1 due to lower average selling prices, partially offset by increased volumes.
- Earnings in the raw materials segment are expected to be higher in Q2 vs Q1 due to the increased profitability of its direct reduced iron facilities.