On August 4, Nucor rose 3.04% in regular trading, reaching $269.21 per share with turnover of $129 million. The rally was driven by the company's recently reported Q2 results that significantly exceeded expectations, coupled with multiple investment banks raising their price targets.
Nucor posted Q2 adjusted EPS of $4.84, beating the consensus estimate of $4.38 by approximately 10.5% and surging 86% year-over-year. Revenue came in at $10.4 billion, up 23% year-over-year and above market expectations. The company also guided Q3 earnings to exceed Q2 levels. Following the report, Barclays raised its price target from $272 to $295, BNP Paribas from $274 to $300, and UBS from $224 to $256.
The strong performance reflects demand tailwinds from reshoring, infrastructure spending, and AI datacenter capital expenditure, while the company's disciplined pricing strategy has helped suppress import competition even as domestic steel prices reached two-year highs.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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