Why Did Nucor Stock Fall In After-Hours Trading Today?

Nucor (NUE) stock fell 4.4% in extended trading on Wednesday after the steelmaker projected a sequential decline in third-quarter earnings.

The company forecasted its third-quarter earnings to be in the range of $2.05 to $2.15 per share, compared with $2.60 per share in the previous quarter. The projections also came in lower than analysts' expectations of $2.42 per share, according to Fiscal data.

Nucor stated that it anticipates a decline in all three of its operating segments for the quarter ending Oct. 4. This forecast came in sharp contrast to that of smaller peer Steel Dynamics, which projected an increase in earnings driven by growth across all of its core segments.

The Charlotte, North Carolina-based company said its steel mills segment earnings are down primarily due to lower volumes coupled with margin compression, while its steel products segment earnings are expected to decline due to higher average costs per ton amid stable average realized pricing and volumes.

Retail sentiment on Stocktwits about Nucor was in the 'neutral' territory at the time of writing.

U.S. steel demand is expected to rise in the second half of the year, propelled by a decline in interest rates amid robust demand for power and energy infrastructure. However, steelmakers are still grappling with higher raw materials costs due to President Trump's tariff policy.

Earlier in July, the company projected a nominal decline in third-quarter earnings, with projections of lower earnings only in the steel mills segment and similar results in its steel products and raw materials segments.

Nucor stock has gained over 21% this year, due to its heavy U.S. exposure, at a time when the Trump administration has raised tariffs on steel imports to 50%. Investor confidence in the company rose even further after Berkshire Hathaway revealed a new position in the company in August.

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