Nucor Forecasts Q4 EPS to Be Between $0.30 to $0.35


Nucor (NUE) shares were lower 2% on Thursday after the steel manufacturer said it expects its Q4 earnings per share to be in the range of $0.30 to $0.35 per diluted share, below the average analyst forecast of $0.51, published by Capital IQ.

The estimated EPS range is lower than Q3 diluted EPS of $0.84 and it’s below the diluted EPS of $0.45 reported in the fourth quarter a year earlier of $0.45, the company said on Thursday.

The projected fourth quarter result for 2016 includes an estimated LIFO, last in first out asset valuation method, expense of $35.3 million, or $0.07 per diluted share.

That compares with an expense of $59.3 million, $0.12 per diluted share, in the third quarter of this year and a gain of $217.8 million, or $0.41 per diluted share, in the fourth quarter of 2015.