04:59 PM EDT, 03/14/2024 (MT Newswires) -- Nucor ( NUE ) said Thursday it expects Q1 earnings of $3.55 to $3.65 per diluted share, down from to $4.45 a year earlier.

Analysts surveyed by Capital IQ expect net income of $3.70.

The company expects earnings of the steel-mills segment to increase in Q1 because of higher prices and volumes, while earnings of steel products will decline due to drop in prices and volumes.

Nucor ( NUE ) said it repurchased 5.5 million shares in Q1 to date, returning $1.13 billion to shareholders.

The company plans to report Q1 results on April 22.

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