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Nucor guides Q1 earnings below consensus, blames weather

  • Steelmaker Nucor (NUE -0.5%) issues downside guidance for Q1 earnings due to severe weather which has disrupted customer demand, decreased the amount of railcar availability and exacerbated conditions in the seasonally weaker performance of its fabricated construction products businesses.
  • NUE sees Q1 EPS of $0.30-$0.35, up from $0.26 in Q1 2013 but well below Q4 profit of $0.46 and analyst consensus estimate of $0.48.
  • NUE said in January that Q1 earnings likely would be similar to Q4 results, excluding the impact of a tax adjustment in Q4.
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