Nucor Announces Guidance For Its Second Quarter Earnings
Included in the first quarter of 2018 results was an expense of
Earnings in the second quarter of 2018 are expected to increase significantly compared to the first quarter of 2018. The performance of the steel mills segment is expected to be significantly improved in the second quarter of 2018 as compared to the first quarter of 2018 due to higher average selling prices and increased profitability across all steel mill product groups, with the strongest increase at our sheet mills. We also expect increased profitability in our steel products segment and raw materials segment in the second quarter of 2018 as compared to the first quarter of 2018.
Our improved earnings are the result of much stronger market conditions that we believe have been positively impacted by deregulation, tax reform and higher, stable oil prices.
Based on the current steel market fundamentals and communications with our customers, we are confident in our belief that there is sustainable strength in steel end use markets. Our steel mill and steel product backlogs are robust and have trended upward since the beginning of the year. We therefore expect strong performance and profitability to continue through the remainder of the year.
Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties. The words "believe," "expect," "project," "will," "should," "could" and similar expressions are intended to identify those forward-looking statements. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including competition from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to prevailing steel prices and the changes in the supply and cost of raw materials, including scrap steel; (4) market demand for steel products; and (5) energy costs and availability. These and other factors are discussed in
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