Fatal shooting in New Mexico park casts pall over Legislature and its ability to contain crime
Turkish prosecutors demand Istanbul mayor Imamoglu to be jailed pending trial
Australia budget to dole out energy bill relief as general election looms
UK's Reeves to set out 2 billion pounds civil service spending cuts
US FAA pilot safety messaging system resumes operations after outage
Roddy Gayle's second-half surge leads Michigan past Texas A&M 91-79 in March Madness turnaround
Calipari bests Pitino in March Madness and leads Arkansas to sweetest Sweet 16 appearance yet
(Reuters) - Nucor Corp on Thursday forecast first-quarter 2025 profit below estimates as a weak steel pricing environment continues to weigh on its average selling prices, sending the steelmaker's shares down 4% after the bell.
On an adjusted basis, the Charlotte, North Carolina-based company expects first-quarter earnings to be in the range of 50 cents to 60 cents per share, compared with analysts' estimate of $1.09 per share, according to data compiled by LSEG.
Nucor, with facilities in the U.S., Canada and Mexico, expects the earnings in its larger steel mills segment to be in line with the previous quarter.
However, it forecasts a sequential decline in earnings in its steel products segment due to lower average selling prices.
Peers U.S. Steel and Steel Dynamics also forecast lower-than-expected first-quarter earnings earlier this week, amid a prolonged decline in steel prices.
However, the sector awaits improvements in the pricing environment this year, buoyed by U.S. president Donald Trump's implementation of additional tariffs on steel and aluminum imports.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Vijay Kishore)
