Nucor Rose Nearly 2% in Premarket Trading after Posting Its Financial Result

Tiger Newspress2022-01-27

Nucor rose nearly 2% in premarket trading after posting its financial result.

  • Its Q4 GAAP EPS of $7.97 beats by $0.13.Revenue of $10.36B (+97.0% Y/Y)misses by $90M.Its First Quarter of 2022 Outlook is that end use market demand remains strong for steel and steel products, and we are confident that 2022 will be another year of strong profitability for Nucor. We expect consolidated net earnings attributable to Nucor stockholders in the first quarter of 2022 will be slightly reduced from the record results of the fourth quarter of 2021. Diluted earnings per share for first quarter of 2022 will benefit from lower weighted average shares outstanding.
  • Steel mill segment earnings are expected to decline in the first quarter of 2022 due to decreased profitability of our sheet mills. The steel products segment is expected to achieve further margin expansion and profitability in the first quarter of 2022 as backlog pricing has improved reflecting higher steel costs. Earnings of the raw materials segment are expected to improve slightly in the first quarter of 2022 as compared to the fourth quarter of 2021 due to the improved profitability of our direct reduced iron facilities, partially offset by the impact of lower scrap prices on our scrap brokerage and processing operations.
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