RTTNews | Jan 28, 2021 08:22AM EST

08:21 Thursday, January 28, 2021 (RTTNews.com) - While reporting its financial results for the fourth quarter on Thursday, Nucor Corp. (NUE), a manufacturer of steel and steel products, said it expect earnings in the first quarter of 2021 to significantly increase from the preceding fourth quarter of 2020.

Nucor noted that the expected performance of the steel mills segment in the first quarter is the primary driver for this increase, as the company's sheet, plate, bar and structural mills are forecasting increased profitability in the first quarter as compared to the fourth quarter of 2020.

However, the profitability of Nucor's downstream steel products segment is expected to decrease in the first quarter compared to the fourth quarter of 2020 due to typical seasonal patterns and some margin compression related to the delay between rising steel input costs and increases in selling prices.

The company also expects the raw materials segment's performance in the first quarter to significantly improve compared to the fourth quarter of 2020 due to higher raw materials selling prices.

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