We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nucor's (NUE) Q3 Earnings Beat, Sales Miss Estimates
Read MoreHide Full Article
Nucor Corporation (NUE - Free Report) is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. Nucor remains committed to expand its production capabilities and grow its business through strategic acquisitions. The company is also seeing continued momentum in the automotive market.
Let’s have a quick look at this steel company’s third-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Nucor for the third quarter has been stable over the past week. The company has beaten the Zacks Consensus Estimate in two of the trailing four quarters while missing in the other two, with an average positive surprise of 8.99%.
Nucor’s adjusted earnings for the third quarter were 79 cents per share. Earnings surpassed the Zacks Consensus Estimate of 78 cents.
Revenues
Nucor reported revenues of $5,170.1 million, up roughly 20.5% year over year from $4,290.2 million. That, however, missed the Zacks Consensus Estimate of $5,276 million.
Key Stats/Developments to Note
Total steel mills shipments in the third quarter were 6,165,000 tons, up 18% year over year. Total tons shipped to outside customers were up 12% year over year to 6,618,000 tons. Average sales price in the quarter were up 7% year over year.
The company expects earnings in fourth-quarter 2017 to be to be similar to slightly lower from the third quarter, excluding tax benefits recognized during the third quarter of 2017.
Zacks Rank
Currently, Nucor has a Zacks Rank #5 (Strong Sell), but that could change following the company’s earnings report which was just released.
Market Reaction
Nucor’s shares were inactive in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Nucor’s earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
Nucor's (NUE) Q3 Earnings Beat, Sales Miss Estimates
Nucor Corporation (NUE - Free Report) is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. Nucor remains committed to expand its production capabilities and grow its business through strategic acquisitions. The company is also seeing continued momentum in the automotive market.
Let’s have a quick look at this steel company’s third-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Nucor for the third quarter has been stable over the past week. The company has beaten the Zacks Consensus Estimate in two of the trailing four quarters while missing in the other two, with an average positive surprise of 8.99%.
Nucor Corporation Price and EPS Surprise
Nucor Corporation Price and EPS Surprise | Nucor Corporation Quote
Earnings
Nucor’s adjusted earnings for the third quarter were 79 cents per share. Earnings surpassed the Zacks Consensus Estimate of 78 cents.
Revenues
Nucor reported revenues of $5,170.1 million, up roughly 20.5% year over year from $4,290.2 million. That, however, missed the Zacks Consensus Estimate of $5,276 million.
Key Stats/Developments to Note
Total steel mills shipments in the third quarter were 6,165,000 tons, up 18% year over year. Total tons shipped to outside customers were up 12% year over year to 6,618,000 tons. Average sales price in the quarter were up 7% year over year.
The company expects earnings in fourth-quarter 2017 to be to be similar to slightly lower from the third quarter, excluding tax benefits recognized during the third quarter of 2017.
Zacks Rank
Currently, Nucor has a Zacks Rank #5 (Strong Sell), but that could change following the company’s earnings report which was just released.
Market Reaction
Nucor’s shares were inactive in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Nucor’s earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>