Nucor (NUE) Tops Q1 EPS by 56c

Nucor (NYSE: NUE) reported Q1 EPS of $4.45, $0.56 better than the analyst estimate of $3.89. Revenue for the quarter came in at $8.71 billion versus the consensus estimate of $9.06 billion.

Second Quarter of 2023 Outlook:
We expect earnings in the second quarter of 2023 to increase compared to the first quarter of 2023. We expect earnings for the steel mills segment to improve in the second quarter of 2023 as compared to the first quarter of 2023 primarily due to margin expansion at our sheet mills. The steel products segment is expected to deliver strong results in the second quarter of 2023, but will moderate from the first quarter of 2023 due to expected lower average selling prices offsetting higher volumes. The raw materials segment is expected to improve in the second quarter of 2023 as compared to the first quarter of 2023 due to the improved profitability of our DRI facilities.

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

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