Nucor Corp. expects its fourth-quarter earnings to benefit from a "modest improvement" in steel market conditions, though its per-share profit outlook missed analysts' expectations.

The Charlotte, N.C., company also said that while global market conditions remain uncertain, that it expects its 2016 profitability will improve slightly over last year, driven by improved performance in its steel mills and steel products businesses.

Nucor projected per-share earnings of 20 cents to 25 cents for the three months ending April 2, compared with the 21 cents a share the company posted for the year-earlier period. Analysts polled by Thomson Reuters expected a per-share profit of 29 cents.

Nucor said the operating performance in its steel mills business is expected to benefit from lower inventory costs and positive market trends, including a small decline in import volumes and more balanced inventory levels at service-center customers.

Nucor and other U.S. steelmakers, facing a slew of imports that have weighed on steel prices, have said they are the victims of illegal trade practices and have sought help from the government.

The Department of Commerce recently imposed preliminary duties on imports of cold-rolled steel, used to make auto parts, appliances and shipping containers, from seven countries including China, whose steelmakers were slapped with a massive tariff.

Nucor stated in its news release Tuesday that it is confident that final decisions by the U.S. Commerce Department "will fully address all dumping and subsidies" related to continuing trade cases.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

March 15, 2016 11:05 ET (15:05 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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