June 15, 2017 / 1:26 PM / 8 months ago

Steel maker Nucor expects 2nd-qtr earnings to fall from 1st-qtr

June 15 (Reuters) - U.S. steel-maker Nucor Corp said on Thursday it expects second-quarter earnings per share to decrease from the preceding quarter, partly due to weak demand in its steel mills business.

Nucor’s shares fell 1.9 percent to $58 in premarket trading after the company said it expects earnings of $1.00 to $1.05 per share for the second quarter ending July 1.

“Market conditions for hot-rolled sheet products have been more challenging than we expected earlier in the quarter when we provided our qualitative guidance due to aggressive competition,” Nucor said in a statement. (Reporting by Arunima Banerjee in Bengaluru; Editing by Sai Sachin Ravikumar)

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