Nucor Announces Guidance for Q3

Nucor Corporation NUE announced today guidance for its third quarter ending October 2, 2010. Nucor expects third quarter results to be in the range of $0.05 to $0.10 per diluted share, compared to earnings of $0.29 per diluted share in the second quarter of 2010, $0.10 per diluted share in the first quarter of 2010 and a loss of $0.10 per diluted share in the third quarter of 2009. Projected third quarter results include an estimated LIFO charge of $67 million compared to charges of $24 million and $67 million in the first and second quarters of 2010, respectively, and a credit of $120 million in the third quarter of 2009. The estimated quarterly LIFO charge is higher than the charge of $45.5 million anticipated at the time we gave our qualitative guidance.