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)