Nucor's (NUE) Earnings Lag, Revenues Beat Estimates in Q1

Zacks04-23

Nucor Corporation NUE reported earnings of $3.46 per share in first-quarter 2024, down from earnings of $4.45 in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of $3.62.The ...

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The bottom line missed the Zacks Consensus Estimate of $3.62.The ...</p>\n\n<a href=\"https://finance.yahoo.com/news/nucors-nue-earnings-lag-revenues-125100845.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nucor's (NUE) Earnings Lag, Revenues Beat Estimates in Q1</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNucor's (NUE) Earnings Lag, Revenues Beat Estimates in Q1\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-23 20:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/nucors-nue-earnings-lag-revenues-125100845.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nucor Corporation NUE reported earnings of $3.46 per share in first-quarter 2024, down from earnings of $4.45 in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of $3.62.The ...</p>\n\n<a href=\"https://finance.yahoo.com/news/nucors-nue-earnings-lag-revenues-125100845.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NUE","symbol_name":"纽柯钢铁","start_time":0,"source_url":"https://finance.yahoo.com/news/nucors-nue-earnings-lag-revenues-125100845.html","article_id":"2429113043","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ShfhwtDyA2WzDBKdAL7M8Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6f2cab89bf2cbad1966358e04258e202"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429113043","pubTimestamp":1713876660,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Nucor Corporation NUE reported earnings of $3.46 per share in first-quarter 2024, down from earnings of $4.45 in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of $3.62.The company recorded net sales of $8,137.1 million, down around 7% year over year. The figure beat the Zacks Consensus Estimate of $8,030.1 million.NUE currently carries a Zacks Rank #3 .Better-ranked stocks worth a look in the basic materials space include Denison Mines Corp. DNN, Carpenter Technology Corporation CRS and Innospec Inc. IOSP.Denison Mines beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company’s shares have soared roughly 96% in the past year. DNN carries a Zacks Rank #1 . You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"NUE":"纽柯钢铁","DNN":"丹尼森矿业"},"translate_title":"纽柯（NUE）盈利滞后，Q1营收超出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NUE":1,"DNN":0.9},"content_text":"Nucor Corporation NUE reported earnings of $3.46 per share in first-quarter 2024, down from earnings of $4.45 in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of $3.62.The company recorded net sales of $8,137.1 million, down around 7% year over year. The figure beat the Zacks Consensus Estimate of $8,030.1 million.\n\nNucor Corporation Price, Consensus and EPS Surprise\n\nNucor Corporation price-consensus-eps-surprise-chart | Nucor Corporation Quote\n\n \nOperating Figures\nTotal sales tons to outside customers for steel mills in the first quarter were 4,676,000 tons, down 3% year over year. The figure beat our estimate of 4,639,000 tons.The average sales price for steel mills was $1,108 per ton for the quarter. The metric was below our estimate of $1,155 per ton.Overall operating rates at the company’s steel mills rose to 82% in the first quarter of 2024 from 79% in the year-ago quarter.\nSegment Highlights\nEarnings of the company’s steel mills unit increased sequentially in the reported quarter on higher average selling prices and increased volumes, especially at its sheet millsEarnings in the steel products division were lower sequentially in the first quarter due to reduced prices and a decline in volumes.The raw materials segment’s earnings rose sequentially in the reported quarter.\nFinancial Position\nCash and cash equivalents were $4,557.8 million at the end of the quarter, up around 20% year over year. Long-term debt was $6,647.6 million, essentially flat year over year.The company repurchased around 5.5 million shares of its common stock at an average price of $180.79 per share during the quarter.\nOutlook\nNucor anticipates a decline in earnings in the second quarter of 2024 compared with the prior quarter. The expected downside can be attributed to lower earnings in the steel mills segment, mainly due to reduced average selling prices partly offset by slightly higher volumes.Earnings in the steel products segment are forecast to decline moderately in the second quarter due to reduced average selling prices, partly masked by higher volumes. However, Nucor expects a sequential rise in earnings in the raw materials segment for the first quarter of 2024 due to higher profitability of its direct reduced iron facilities and scrap processing operations.\nPrice Performance\nShares of Nucor are up 23.6% in a year compared with the industry’s 10.7% rise.\nImage Source: Zacks Investment Research\n \nZacks Rank & Key Picks\nNUE currently carries a Zacks Rank #3 (Hold).Better-ranked stocks worth a look in the basic materials space include Denison Mines Corp. DNN, Carpenter Technology Corporation CRS and Innospec Inc. IOSP.Denison Mines beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company’s shares have soared roughly 96% in the past year. DNN carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Carpenter Technology’s current fiscal year earnings is pegged at $3.96, indicating a year-over-year surge of 247.4%. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have rallied around 62% in the past year. CRS currently carries a Zacks Rank #2 (Buy).  The consensus estimate for Innospec’s current-year earnings is pegged at $6.77 per share, indicating a 11.2% year-over-year rise. IOSP, carrying a Zacks Rank #2, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 10.5%. The company’s shares have gained around 16% in the past year.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nNucor Corporation (NUE) : Free Stock Analysis Report\nCarpenter Technology Corporation (CRS) : Free Stock Analysis Report\nDenison Mine Corp (DNN) : Free Stock Analysis Report\nInnospec Inc. (IOSP) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429113043"}