Dec 16 (Reuters) - U.S. steelmaker Nucor (NUE.N) , opens new tab forecast fourth-quarter profit below Wall Street estimates on Monday, citing a slump in earnings in their steel mills segment caused by decreased volumes and lower average selling prices.

The company expects fourth-quarter earnings to be in a range of $0.55 to $0.65 per diluted share, lower than analysts' estimates of $0.90 per share, according to data compiled by LSEG.

However, it expects earnings in its raw materials segment to increase year-over-year in the fourth quarter.

Peer Steel Dynamics (STLD.O) , opens new tab also forecast its fourth-quarter earnings below Wall Street estimates on Monday as the Indiana-based company sees lower realized steel prices and fall in shipments.

Sign up here.

https://www.reuters.com/markets/commodities/nucor-forecasts-lower-than-expected-fourth-quarter-profit-2024-12-16/