Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Nucor anticipates strong market conditions to continue in Q3 2021 and has revised its Q2 2021 earnings forecast upwards based on the demand and high prices for steel at present. Nucor’s net sales in Q2 are expected to surpass $7bn achieved in Q1 2021.


The steelmaker raised its earnings guidance by 2.4pc for Q2 2021 ending Jul 3, making it the highest quarterly earnings in Nucor history. It has forecast $4.70/share, which is 51.6pc higher than the $3.10/share achieved in Q1 Q2021. The improved guidance is also influenced by Nucor’s repurchase of 6.7 million shares in Q2 2021 and 5.4 million shares in Q1 2021 for a total of 12.1 million in H1 2021.


Steel mill earnings are expected to improve in the second quarter against Q1 2021 propelled by higher profitability at plate and flats mills. Longs products sales are also expected to increase against Q1 2021. Earnings from the raw materials division are anticipated to fall in Q2 2021 after reaching a Q1 2021 earnings record. 

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