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CHARLOTTE, N.C., Dec. 16 /PRNewswire-FirstCall/ -- Nucor Corporation (NYSE: NUE) announced today guidance for its fourth quarter ending December 31, 2009. Nucor expects fourth quarter results to be breakeven to slightly positive, an improvement over losses of $0.60, $0.43 and $0.10 per diluted share in the first, second and third quarters of 2009, respectively. By comparison, Nucor earned $0.34 per share in the fourth quarter of 2008.

While we did fully benefit from the absence of high-cost pig iron inventories at our sheet mills, fourth quarter results will be significantly impacted by reduced earnings in our downstream, long products and scrap businesses. We are forecasting steel mill operating rates down from 69% in the third quarter to below 60% in the fourth quarter. This performance is consistent with our qualitative guidance, given in late October, regarding the potential negative impact of lower operating volumes and seasonal issues that are separate of the general economic slowdown due to the holidays and year-end plant shutdowns by some of our customers.

Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements are outlined in Nucor's regulatory filings with the Securities and Exchange Commission, including those in Nucor's December 31, 2008 Annual Report on Form 10-K. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them.

SOURCE Nucor Corporation

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