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US steelmaker Nucor tops quarterly estimates on higher spot prices
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US steelmaker Nucor tops quarterly estimates on higher spot prices
May 25, 2025 8:24 PM

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)

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