Nucor’s stock falls after steelmaker issues profit warning, citing lower selling prices
Earnings Results
Steel-mill, steel-products and raw-materials businesses all expected to see third-quarter earnings below second-quarter levels
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Shares of Nucor Corp. slumped in early Tuesday trading after the steelmaker warned investors of a third-quarter profit shortfall, as lower selling prices weighed on its steel-mill business.
The company expects third-quarter net earnings per share to be 87 cents to 97 cents. Excluding nonrecurring items, such as a one-time asset-impairment charge, adjusted EPS is expected to be $1.30 to $1.40.