In a Tuesday interview with CNBC's Jim Cramer, Nucor CEO Leon Topalian gave reassurances that the steelmaker is on the right track despite quarterly earnings that fell short of expectations and weak guidance for the current period.
Nucor released its quarterly report Monday evening and by Tuesday's close, shares had declined more than 8%.
The company said it expects its steel products segment to have "moderately decreased earnings" in the second quarter compared to the first due to "lower average selling prices, partially offset by increased volumes."
Topalian conceded that the second quarter would be "a little bit lower," but insisted that steel products has been "one of our strongest, most resilient, robust performers."
And according to him, Nucor is seeing its earnings moderate after the past few years of intense growth following the pandemic.
Persons:
CNBC's Jim Cramer, Leon Topalian, Topalian, Nucor, Tuesday's
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Nucor
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