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Nucor issues downside Q3 earnings guidance

|About: Nucor Corporation (NUE)|By:, SA News Editor

Nucor (NYSE:NUE) -1.8% pre-market after estimating Q3 EPS of $0.75-$0.80, below Q2 earnings of $1.26 and well short of $2.13 in the year-ago Q3.

NUE expects Q3 performance in its steel mills segment to decrease compared to Q2 due primarily to lower prices for sheet and plate steel, noting some softening in automotive, agricultural products and power transmission markets.

NUE sees profitability in the steel products segment improving in Q3, as non-residential construction market conditions remain strong.

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