Nucor profit beats estimates on strong shipments, pricing

Oct 27 (Reuters) - U.S. steelmaker Nucor NUE.N reported better-than-expected profit for the third quarter on Monday, buoyed by higher product pricing and robust shipments, sending its shares up nearly 3% in extended trading.

The company has benefited from a fall in steel imports into the U.S. after President Donald Trump imposed tariffs on the metal, leading to higher domestic buying.

Total shipments from its steel mills jumped 12% from a year earlier to about 6.4 million tons.

The Charlotte, North Carolina-based company also saw its external average sales price per ton rise 5%.

Nucor posted a profit of $2.63 per share for the third quarter, compared with analysts' average estimate of $2.19, according to data compiled by LSEG.

Its revenue rose 14% to $8.52 billion during the quarter ended October 4, also above expectations of $8.16 billion.