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Nucor's (NUE) Q2 Earnings Beat, Revenues Miss Estimates
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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.
Earnings
Nucor’s adjusted earnings for the second quarter came in at $2.13 per share, which surpassed the Zacks Consensus Estimate of $2.10.
Revenues
Nucor reported revenues of $6,460.8 million for the quarter, up roughly 24.9% year over year from $5,174.8 million. The figure trailed the Zacks Consensus Estimate of $6,492.9 million.
Investors should note that the earnings estimate for Nucor for the second quarter have been going up over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters, while missing once, with an average positive surprise of 3.8%.
Key Stats/Developments to Note
Total steel mills shipments in the second quarter were 6,440,000 tons, up 6% year over year. Total tons shipped to outside customers were up 7% year over year to 7,197,000 tons. Average sales price in the quarter were up 17% year over year.
Zacks Rank
Currently, Nucor has a Zacks Rank #2 (Buy).
Market Reaction
Nucor’s shares were up roughly 0.5% 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!
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Nucor's (NUE) Q2 Earnings Beat, Revenues 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.
Earnings
Nucor’s adjusted earnings for the second quarter came in at $2.13 per share, which surpassed the Zacks Consensus Estimate of $2.10.
Revenues
Nucor reported revenues of $6,460.8 million for the quarter, up roughly 24.9% year over year from $5,174.8 million. The figure trailed the Zacks Consensus Estimate of $6,492.9 million.
Nucor Corporation Price and EPS Surprise
Nucor Corporation Price and EPS Surprise | Nucor Corporation Quote
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Nucor for the second quarter have been going up over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters, while missing once, with an average positive surprise of 3.8%.
Key Stats/Developments to Note
Total steel mills shipments in the second quarter were 6,440,000 tons, up 6% year over year. Total tons shipped to outside customers were up 7% year over year to 7,197,000 tons. Average sales price in the quarter were up 17% year over year.
Zacks Rank
Currently, Nucor has a Zacks Rank #2 (Buy).
Market Reaction
Nucor’s shares were up roughly 0.5% 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 +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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