Nucor Corp. (NYSE:NUE) said first-quarter profit fell 1%, hampered by declines at its steel-mill business
Net income at the steelmaker slipped to US$354.2mln, or US$1.10 a share, from US$356.9mln, or US$1.11 a share, a year earlier, the company said in a statement today. That beat matched consensus estimates of US$1.10 a share on EarningsWhispers.com.
Nucor said it forecasts earnings in the second quarter “to increase significantly” compared to the first quarter.
The stock was little changed at US$65.25 at 2:30 p.m.