RTTNews | Jun 16, 2021 09:16AM EDT

09:16 Wednesday, June 16, 2021 (RTTNews.com) - Steel and steel products maker Nucor Corp. (NUE) on Wednesday provided its earnings guidance for the second quarter, which is expected to be the highest quarterly earnings in Nucor history, surpassing the previous record set in the first quarter of 2021 of $3.10 per share.

For the second quarter, the company expects earnings in a range of $4.60 to $4.70 per share. On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.52 per share for the quarter. Analysts' estimates typically exclude special items.

The company noted that all three of its operating segments are continuing to generate robust profitability as overall strong demand is supporting higher average selling prices.

Looking further ahead, the company believes that these strong market conditions will continue in the third quarter. The profitability of the steel products segment is expected to significantly improve as compared to the second quarter, and it expects increased earnings from the steel mills segment in the third quarter as well.

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