Consolidated net earnings in the second quarter of 2019 were $386.5 million, or $1.26 per diluted share. That figure appears to be bearish compared to consolidated net earnings, or $1.63 per diluted share, of $501.8 million in the first quarter of 2019.
Nucor reported a 3% decrease in consolidated net sales in the second quarter of 2019, decreased $5.90 billion from $6.10 billion in the first quarter of 2019.
Earnings from the company's steelmakers division witnessed a decrease in the first quarter. While the profitability of the steel products division increased, the operating performance of the raw materials division remained fundamentally stable.
Going forward, greater profit margin pressures in DRI businesses will result in undermined operating performance by the raw material segment. Low price levels for flat-rolled and plate steel are likely to affect the performance of the steelmakers' segment in the third quarter this year.
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