Nucor Corporation provided earnings guidance for the third quarter of 2022. Though they expect a decrease from the record-setting second quarter, they expect another strong quarter of profitability in the third quarter of 2022. They expect the steel mills segment earnings to be sequentially lower in the third quarter of 2022, due to lower expected shipment volumes and average selling prices, particularly at sheet and plate mills.

The steel products segment is expected to have another very strong quarter in the third quarter of 2022, with earnings roughly in-line with the second quarter of 2022. Raw materials segment earnings are expected to improve in the third quarter of 2022 due to higher realized pricing at DRI facilities.