After reporting earnings in the third quarter, Charlotte-based steel-products maker Nucor Corp. said it expects a loss in the fourth quarter.
The company expects a loss of 10 to 15 cents per diluted share, compared with earnings of 7 cents in the third quarter of 2010 and 18 cents in the fourth quarter of 2009.
In October, the company said “the fourth quarter may indeed turn out to be the most challenging quarter of the year.”
The most challenging markets for its products continue to be those associated with residential and nonresidential construction, the company said.
“Our fourth quarter results will unfortunately confirm these concerns,” the company said.
Significant increases in scrap prices will affect fourth-quarter results, the company said.