By Ben Glickman
Nucor’s fourth-quarter results took a hit as volumes and selling prices fell across its business.
The Charlotte, N.C.-based steelmaker posted a profit of $785.4 million, or $3.16 a share, in the quarter ended Dec. 31, compared with $1.26 billion, or $4.89 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $2.83.
Revenue fell 12% to $7.7 billion, topping the $7.63 billion expected by analysts polled by FactSet.
Nucor said its earnings fell due to lower pricing and volumes across all three of its operating segments.
The company expects earnings to increase in the first quarter on a sequential basis due to recovering selling prices in the steel mills segment and greater profitability in its raw materials segment.
Write to Ben Glickman at ben.glickman@wsj.com