Nucor sees lower earnings, suspends natural gas drilling

Tue Dec 17, 2013 9:17am EST
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Dec 17 (Reuters) - Steelmaker Nucor Corp forecast a decline in fourth quarter earnings on Tuesday, and said it has agreed to temporarily suspend drilling new natural gas wells with Encana Corp, citing weak prices.

Nucor expects a decline in the value of inventory to weigh on results. It forecast fourth-quarter earnings between 35 and 40 cents a share, down from 43 cents a share a year earlier.