Yahoo Finance Live anchors discuss the decline in shares for Nucor.
BRAD SMITH: Also, let's talk about shares of Nucor this morning. We've been tracking those shares after the steelmaker issued a third quarter profit warning. Shares lower by about 6.3% right now. They forecasted that earnings-per-share would be below estimates due to metal margin contraction and reduced shipping volumes.
The company expects a third quarter EPS to come in between $6.30 a share to $6.40 a share. That compared to an earnings-per-share of $7.28 for the third quarter a year ago.
And for Nucor and what they had particularly outlined in this warning-- and this perhaps just one of the warnings that we should be keeping close eye on. I mean, and it's really going to come in the form of 8-K filings that we had seen or whether companies decide to post it just outright on their investor relations pages.
But for Nucor and what they particularly had lined up and laid out here, I think it was telling that in the first six months they had actually kind of done well and seen some of that demand actually push them towards this world-class performance that they were talking about, exceptional customer service, profitability.
But now, going forward, from this point, it's really gonna come down to where in the steel mills, where they're continuing to see some of that demand. And they're expecting it to be considerably lower in the third quarter--
JULIE HYMAN: Right.
BRAD SMITH: --of 2022.
JULIE HYMAN: Yeah, just one thing I want to mention is-- first of all, we've got the other steelmakers that are trading lower on this. And you know, we really should be keeping a running tally here. What are the different industries where we are seeing warnings, right? Certainly, we've had it in retail, a lot of turmoil there. Semiconductors and other big area. Are we gonna start to see industrials and materials suffering that as well? I think we're gonna have to keep a close eye on that.