Nucor beats quarterly results on strong pricing, demand

July 27 (Reuters) - Nucor ‌beat Wall ​Street ​estimates for second-quarter profit and revenue on Monday, helped by higher pricing and ‌strong volumes in its steel mills segment.

U.S. steelmakers ⁠have been benefiting from firmer steel prices, supported by ‌favorable trade policies, easing ‌geopolitical tensions and planned mill outages that have kept supply constrained.

"Investment across key sectors of ​the U.S. economy, combined with supportive federal trade policies, drove a second consecutive quarterly record ⁠for Nucor steel mill shipments," said CEO Leon Topalian.

Here are some ​details:

• The Charlotte, North Carolina-based company posted an adjusted per-share profit of $4.84 in the ​second quarter, compared to average ‌analysts' estimates of $4.38, according to data compiled by LSEG

• It reported a ⁠revenue of $10.4 billion, higher than Street expectations of $10.14 billion.

• Profit in the steel mills segment, before income taxes ⁠and noncontrolling interests, rose nearly 85% to $1.56 billion from $843 ​million last year

• It forecast a growth in revenue in the steel mills and steel products segment in the ‌current quarter, both helped by higher pricing and strong volumes.

• Peer Steel Dynamics ‌posted a jump in second-quarter profit last week, ⁠helped by record ‌steel shipments and ​stronger pricing.

(Reporting by Megavarshini G. Somasundaram and Aishwarya Jain in Bengaluru; Editing by Shailesh ‌Kuber)

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