Nucor Corp NUE, +0.24% shares fell 4.8% in premarket trades after the steel company missed its third-quarter earnings target and said it’s facing more economic headwinds. Third-quarter earnings fell to $1.7 billion, or $6.50 a share, from $2.13 billion, or $7.28 a share in the year-ago quarter. Revenue increased to $10.5 billion from $10.31 billion, while consolidated net sales fell 11% to $10.5 billion from $11.79 billion. Wall Street analysts expected Nucor to earn $6.71 a share on revenue of $10.25 billion, according to FactSet data. Looking ahead, Nucor expects fourth-quarter earnings to fall from the third quarter amid “increasingly challenging market conditions” and “economic uncertainty.” Analysts currently expect Nucor to earn $5.11 a share in the fourth quarter.
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