Nucor (NUE) Misses Q3 EPS by 3c

Nucor (NYSE: NUE) reported Q3 EPS of $1.49, $0.03 worse than the analyst estimate of $1.52. Revenue for the quarter came in at $7.44 billion versus the consensus estimate of $7.29 billion.

Fourth Quarter of 2024 Outlook:
We expect consolidated net earnings attributable to Nucor stockholders in the fourth quarter of 2024 to decrease compared to earnings per diluted share of $1.05 reported for the third quarter of 2024. The largest driver for the expected decrease in earnings in the fourth quarter of 2024 is the decreased earnings of the steel mills segment caused by lower average selling prices and decreased volumes. We expect earnings in the steel products segment to decrease in the fourth quarter of 2024 as compared to the third quarter of 2024 due to lower average selling prices and decreased volumes. The earnings of the raw materials segment are expected to increase in the fourth quarter of 2024 as compared to the third quarter of 2024 (excluding the impairment charge taken during the third quarter of 2024).

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

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