05:14 PM EDT, 10/21/2024 (MT Newswires) -- Nucor ( NUE ) reported fiscal Q3 earnings late Monday of $1.05 per diluted share, down from $4.57 a year earlier.

Analysts polled by Capital IQ expected $1.17.

Net sales for the quarter ended Sept. 28 were $7.44 billion, down from $8.78 billion a year earlier.

Analysts surveyed by Capital IQ expected $7.23 billion.

The company said it expects Q4 earnings to drop sequentially from Q3 mainly due to decreased earnings of the steel mills segment as a result of lower average selling prices and decreased volumes.

Shares of Nucor ( NUE ) were down more than 2% in recent after-hours activity.

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