Nucor Corporation (NYSE:NUE) announced a disappointing second-quarter outlook, expecting earnings significantly lower than the previous year and below consensus estimates. Lower average selling prices and volumes in the steel mills segment are the main drivers of the expected decrease in earnings. Despite this, the raw materials segment is expected to perform better. Nucor has repurchased 2.9 million shares and returned over $1.76 billion to stockholders year-to-date. The company has a strong cash position and an undrawn $1.75 billion revolving credit facility.