Steelmaker Nucor Quarterly Profit Falls on Rising Raw Material Costs
July 28 (Reuters) - Nucor on Monday posted a fall in second-quarter profit, as rising raw material costs pressured the company’s steelmaking segment, sending its shares down 5.8% after the bell.
While U.S. steelmakers benefited from President Trump's tariffs on steel imports — which pushed spot prices higher — the quarter also saw increased raw material costs.
The company said it expects third-quarter earnings to be slightly lower than in the second quarter of 2025, citing decreased earnings in the steel mills segment and similar results in the steel products and raw materials segments.
The Charlotte, North Carolina-based company posted a second-quarter profit of $2.60 per share, compared to $2.68 per share a year earlier.
However, revenue for the quarter ended July 5 rose 4.7% to $8.46 billion, compared to $8.07 billion a year ago.
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