Back to top

Analyst Blog

Nucor Corporation (NUE - Analyst Report) has announced its guidance for the second quarter 2013. The company expects earnings to be in the range of 25 cents to 30 cents, lower than 35 cents it reported in the year-ago quarter and almost in line with the first quarter of 2013. The estimated earnings does not include any accounting charges or credits which were otherwise included in the second quarter last year.

Nucor stated that performance in its steel mills is down sequentially with weakness in sheet and structural steel somewhat masked by improvement in plate. Nucor’s raw materials segment is also expected to report stronger results in the second quarter, owing to normalized operations at its Trinidad Direct Reduced Iron facility after an unplanned 18 day outage in the first quarter.

Nucor added that non-residential construction markets are still lacking momentum but are showing improvements from historically low levels. Manufactured goods including energy and automotive are showing strength.

Nucor released its first quarter results in Apr 2013. The company’s adjusted (excluding special items) earnings of 29 cents per share for the first quarter of 2013 surpassed the Zacks Consensus Estimate of 25 cents. The adjusted earnings exclude an inventory related charge of $18 million or 3 cents a share.

Revenues decreased 10.3% year over year to $4,550 million, missing the Zacks Consensus Estimate of $4,622 million.

Nucor is expected to release its second quarter results on Jul 15, 2013. The company currently retains a short-term Zacks Rank #3 (Hold).

Other companies in the steel industry with favorable Zacks Ranks are Shiloh Industries Inc. , Kobe Steel Ltd. and LB Foster Co. (FSTR - Analyst Report). While both Shiloh and Kobe Steel retain a Zacks Rank #1 (Strong Buy), LB Foster has a Zacks Rank #2 (Buy).
 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
UNITED THER… UTHR 117.83 +28.51%
TRIQUINT SE… TQNT 20.67 +6.52%
VASCO DATA… VDSI 14.77 +4.68%
BANCO DO BR… BDORY 15.53 +3.95%
STRATTEC SE… STRT 80.24 +3.00%