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Nucor's (NUE) Q3 Earnings Top, Revenue 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 third quarter came in at 90 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents.
Revenues
Nucor’s net sales totaled $5,464.5 million, down roughly 19% year over year. The figure missed the Zacks Consensus Estimate of $5,595 million.
Investors should note that the earnings estimate for Nucor for the third quarter have been going down 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 2.6%.
Key Stats/Developments to Note
Total steel mills shipments in the quarter were 5,788,000 tons, down 8% year over year. Total tons shipped to outside customers fell 7% year over year to 6,555,000 tons. Average sales price declined 13% year over year.
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!
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Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.50% per year. So be sure to give these hand-picked 7 your immediate attention.
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Nucor's (NUE) Q3 Earnings Top, Revenue 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 third quarter came in at 90 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents.
Revenues
Nucor’s net sales totaled $5,464.5 million, down roughly 19% year over year. The figure missed the Zacks Consensus Estimate of $5,595 million.
Nucor Corporation Price and EPS Surprise
Nucor Corporation price-eps-surprise | Nucor Corporation Quote
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Nucor for the third quarter have been going down 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 2.6%.
Key Stats/Developments to Note
Total steel mills shipments in the quarter were 5,788,000 tons, down 8% year over year. Total tons shipped to outside customers fell 7% year over year to 6,555,000 tons. Average sales price declined 13% year over year.
Zacks Rank
Currently, Nucor has a Zacks Rank #4 (Sell) 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 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!
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.50% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>