04:46 PM EDT, 07/22/2024 (MT Newswires) -- Nucor ( NUE ) reported fiscal Q2 earnings late Monday of $2.68 per diluted share, down from $5.81 a year earlier.

Analysts polled by Capital IQ expected $2.45.

Net sales for the quarter that ended June 29 was $8.08 billion, down from $9.52 billion a year earlier.

Analysts surveyed by Capital IQ expected $7.52 billion.

The company expects Q3 earnings to drop sequentially due to falling earnings from the steel mills segment, led by lower average selling prices. Analysts polled by Capital IQ expect $2.43 per share.

Nucor ( NUE ) shares traded nearly 2% higher in recent after-hours activity.

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