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Nucor (NUE) Surpasses Earnings & Revenue Estimates in Q1
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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 first quarter came in at $1.55 per share, which surpassed the Zacks Consensus Estimate of $1.50.
Revenues
Nucor’s net sales totaled $6,096.6 million, up roughly 9.5% year over year. The figure also outpaced the Zacks Consensus Estimate of $6,034.1 million.
Investors should note that the earnings estimate for Nucor for the first 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 2.8%.
Key Stats/Developments to Note
Total steel mills shipments in the quarter were 5,989,000 tons, down 4% year over year. Total tons shipped to outside customers fell 3% year over year to 6,767,000 tons. Average sales price improved 13% year over year.
Nucor’s shares were up 0.3% 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 (NUE) Surpasses Earnings & Revenue Estimates in Q1
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 first quarter came in at $1.55 per share, which surpassed the Zacks Consensus Estimate of $1.50.
Revenues
Nucor’s net sales totaled $6,096.6 million, up roughly 9.5% year over year. The figure also outpaced the Zacks Consensus Estimate of $6,034.1 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 first 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 2.8%.
Key Stats/Developments to Note
Total steel mills shipments in the quarter were 5,989,000 tons, down 4% year over year. Total tons shipped to outside customers fell 3% year over year to 6,767,000 tons. Average sales price improved 13% year over year.
Zacks Rank
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.
Market Reaction
Nucor’s shares were up 0.3% 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!
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>