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Nucor (NUE) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Nucor (NUE - Free Report) reported $9.52 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 19.3%. EPS of $5.81 for the same period compares to $9.67 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $9.73 billion, representing a surprise of -2.16%. The company delivered an EPS surprise of +3.94%, with the consensus EPS estimate being $5.59.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nucor performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales Tons to outside customer (Steel) - Total Steel Mills: 4774 KTon compared to the 4928.58 KTon average estimate based on six analysts.
Average Steel Product Price per ton: 2884 $/Ton versus 2751.03 $/Ton estimated by three analysts on average.
Average sales price per ton (Steel) - Total Steel Mills: 1168 $/Ton versus 1090.03 $/Ton estimated by three analysts on average.
Sales in Tons Outside Customers - Joist: 142 KTon versus 147.63 KTon estimated by two analysts on average.
Sales in Tons Outside Customers - Rebar fabrication products: 332 KTon versus 299.71 KTon estimated by two analysts on average.
Sales in Tons Outside Customers - Piling: 113 KTon versus 107.78 KTon estimated by two analysts on average.
Sales in Tons Outside Customers - Tubular products: 239 KTon versus 284.94 KTon estimated by two analysts on average.
Sales Tons to outside customer (Steel) - Sheet: 2404 KTon compared to the 2424.93 KTon average estimate based on two analysts.
Sales Tons to outside customer (Steel) - Bars: 1481 KTon versus the two-analyst average estimate of 1502.09 KTon.
Sales Tons to outside customer (Steel) - Structural: 399 KTon versus the two-analyst average estimate of 430.65 KTon.
Sales Tons to outside customer (Steel) - Plate: 490 KTon versus 447.71 KTon estimated by two analysts on average.
Average sales price per ton (Steel) - Sheet: 1103 $/Ton versus 999.05 $/Ton estimated by two analysts on average.
Shares of Nucor have returned +6.5% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Nucor (NUE) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Nucor (NUE - Free Report) reported $9.52 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 19.3%. EPS of $5.81 for the same period compares to $9.67 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $9.73 billion, representing a surprise of -2.16%. The company delivered an EPS surprise of +3.94%, with the consensus EPS estimate being $5.59.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nucor performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales Tons to outside customer (Steel) - Total Steel Mills: 4774 KTon compared to the 4928.58 KTon average estimate based on six analysts.
- Average Steel Product Price per ton: 2884 $/Ton versus 2751.03 $/Ton estimated by three analysts on average.
- Average sales price per ton (Steel) - Total Steel Mills: 1168 $/Ton versus 1090.03 $/Ton estimated by three analysts on average.
- Sales in Tons Outside Customers - Joist: 142 KTon versus 147.63 KTon estimated by two analysts on average.
- Sales in Tons Outside Customers - Rebar fabrication products: 332 KTon versus 299.71 KTon estimated by two analysts on average.
- Sales in Tons Outside Customers - Piling: 113 KTon versus 107.78 KTon estimated by two analysts on average.
- Sales in Tons Outside Customers - Tubular products: 239 KTon versus 284.94 KTon estimated by two analysts on average.
- Sales Tons to outside customer (Steel) - Sheet: 2404 KTon compared to the 2424.93 KTon average estimate based on two analysts.
- Sales Tons to outside customer (Steel) - Bars: 1481 KTon versus the two-analyst average estimate of 1502.09 KTon.
- Sales Tons to outside customer (Steel) - Structural: 399 KTon versus the two-analyst average estimate of 430.65 KTon.
- Sales Tons to outside customer (Steel) - Plate: 490 KTon versus 447.71 KTon estimated by two analysts on average.
- Average sales price per ton (Steel) - Sheet: 1103 $/Ton versus 999.05 $/Ton estimated by two analysts on average.
View all Key Company Metrics for Nucor here>>>Shares of Nucor have returned +6.5% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.