Charlotte-based Nucor Corporation has announced its expectations for the first quarter of 2021, which will end on April 3, 2021. The company expects quarterly earnings to be the highest in the company's history and surpass the previous record set in 3Q 2008. Additionally, March is expected to be the strongest month of the quarter.
Nucor expects Q1 earnings to be between diluted earnings per share of $3.00 and $3.10. The guidance range compared diluted earnings per share of $1.30 for 4Q 2020 earnings and $0.07 for 1Q 2020 earnings. The company expects strong cash flow from operations for the quarter, which will help it have liquidity of over $4.5 billion at the end of the quarter. The company stated in its press release that this includes the company's $1.5 billion revolving credit facility.
Strong steel demand and higher prices will help steel mills and raw material segments to significantly improve their results compared to the previous quarter. Results from all product groups in the steel mills segment, especially sheet and plate mills, are expected to remain high primarily due to strong demand from end markets.
The company expects this trend to continue until the second quarter and expects earnings to set a new record in 2Q 2021.
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