Nucor (NUE) Tops Q1 EPS by 3c

Nucor (NYSE: NUE) reported Q1 EPS of $1.10, $0.03 better than the analyst estimate of $1.07. Revenue for the quarter came in at $5.57 billion versus the consensus estimate of $5.44 billion.

Earnings in the second quarter of 2018 are expected to increase significantly compared to the first quarter of 2018. It is worth noting that steel mill metal margins and profits in March were by far the strongest in the first quarter of 2018. The performance of the steel mills segment is expected to improve in the second quarter of 2018 as compared to the first quarter of 2018 as we continue to experience the benefit of announced price increases. We believe there is sustainable strength in steel end use markets, and we are encouraged by recent actions by the government to address the massive flood of dumped and illegally subsidized imports into the United States. We believe broad-based tariffs with few exceptions are needed to address the historic volume of unfairly traded imports and transshipping that is done to avoid trade duties. We expect improved performance for our steel products segment in the second quarter of 2018 as compared to the first quarter of 2018 as rising steel input costs are being passed on to customers.

For earnings history and earnings-related data on Nucor (NUE) click here.

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