05:02 PM EDT, 04/22/2024 (MT Newswires) -- Nucor ( NUE ) reported fiscal Q1 earnings late Monday of $3.46 per diluted share, down from $4.45 a year earlier.

Analysts polled by Capital IQ expected $3.66.

Net sales for the quarter that ended March 30 was $8.14 billion, down from $8.71 billion a year earlier.

Analysts surveyed by Capital IQ expected $8.3 billion.

The company expects Q2 earnings to drop sequentially from Q1 due to falling steel mills segment earnings, led by lower average selling prices partially offset by modestly increased volumes. Analysts polled by Capital IQ expect $3.74.

Shares of the company traded 6.3% lower in after-hours activity.