Steelmaker Nucor on Wednesday forecasted a decline in profit for the fourth quarter compared to last year. The earnings forecast is also sharply lower than analysts' estimates.
For the fourth quarter, the company forecast earnings in a range of $0.15 to $0.20 per share. This range is a decrease from both the earnings of $0.65 per share in the year-ago period and also lower than the third quarter of 2015 earnings of $0.71 per share.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.
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