Nucor (NUE) Tops Q1 EPS by 38c

Nucor (NYSE: NUE) reported Q1 EPS of $7.67, $0.38 better than the analyst estimate of $7.29. Revenue for the quarter came in at $10.49 billion versus the consensus estimate of $10.48 billion.

Second Quarter of 2022 Outlook:

End use market demand remains strong for steel and steel products, and we remain confident that 2022 will be another year of very strong earnings and cash flow for Nucor.

We expect that the second quarter of 2022 will be the most profitable quarter in Nucor's history, surpassing the previous record set in the fourth quarter of 2021.

Second quarter earnings will be driven by increased profitability in the steel products segment, which continues to benefit from robust demand in nonresidential construction markets. In addition, the steel mills segment earnings are expected to strengthen due primarily to increased profitability at our sheet and plate mills. Similarly, Nucor's raw materials segment is expected to generate increased profits in the second quarter due to relatively higher selling prices for raw materials.

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

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