Stock Track | Nucor Plummets 5.96% Intraday on Missed Earnings and Rising Scrap Steel Costs

Stock Track01-27

Nucor's stock price plummeted 5.96% during Tuesday's intraday trading session, reflecting significant investor reaction to the company's latest financial results.

The steelmaker reported weaker-than-expected fourth-quarter earnings and revenue, posting earnings of $1.73 per share compared to the analyst consensus estimate of $1.91 per share. Revenue came in at $7.687 billion, missing the expected $7.868 billion.

Adding to the negative sentiment, rising scrap steel costs are creating margin pressure for Nucor. The company's business model relies on remelting scrap to produce new steel, making it particularly vulnerable to increasing input costs even as steel prices have been rising.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment