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’s earnings for the fourth quarter came in at $2.07 per share, which surpassed the Zacks Consensus Estimate of $1.93.
Nucor’s net sales totaled $6,295.9 million, up roughly 24% year over year. The figure also outpaced the Zacks Consensus Estimate of $6,289.3 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Nucor for the fourth quarter have been going down over the past month. The company has beaten the Zacks Consensus Estimate in two of the trailing four quarters, while missing on two occasions, with an average positive surprise of 5.6%.
Key Stats/Developments to Note
Total steel mills shipments in the quarter were 5,888,000 tons, up 2% year over year. Total tons shipped to outside customers were up 2% year over year to 6,687,000 tons. Average sales price improved 21% year over year.
Currently, Nucor has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nucor’s shares were up roughly 3.5% 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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