Back to top

Nucor's (NUE) Q3 Earnings Beat, Sales Miss Estimates
October 19, 2017

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 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>>
 




In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Nucor Corporation (NUE) - free report >>


More from Zacks Tale of the Tape

You May Like