April 28 (Reuters) - U.S. steelmaker Nucor Corp ( NUE )
beat analysts' estimates for first-quarter revenue and profit on
Monday, helped by strength in its mills segment operations.
The segment, which produces steel sheets, plates, bars and
structural steel, reported a 10% rise in total shipments to 6.4
million tonnes.
Steelmakers benefited from a rise in spot prices of
hot-rolled coil (HRC), the most actively traded form of finished
steel, following an uptick in domestic demand after President
Donald Trump raised tariffs for steel and aluminum imports.
This offset the impact from lower selling prices in Nucor's ( NUE )
products segment and lower margins in its raw materials
business.
"We expect earnings in the second quarter of 2025 to
increase compared to the first quarter of 2025," Nucor ( NUE ) said.
The company projected increases across all three of its
operating segments, with the largest in the steel mills segment
due to higher average selling prices at its sheet and plate
mills.
The Charlotte, North Carolina-based company reported
quarterly adjusted profit of 77 cents per share, beating
analysts' estimates of 64 cents, according to data compiled by
LSEG.
Total revenue was $7.83 billion, topping estimates of $7.23
billion.
(Reporting by Aatreyee Dasgupta and Abhinav Parmar in
Bengaluru; Editing by Sriraj Kalluvila)