Nucor Posts $5.80 Q3 EPS, Topping Its Own $5.55-$5.65 Guidance
NUE sits 87% above its 52-week low of $138.34.
Summary
Nucor reported third-quarter EPS of $5.80, coming in above the $5.55-$5.65 range it guided to on September 17 and up sharply from $5.04 in Q2. The print also clears the $5.99 FactSet consensus that the guidance had fallen short of — wait, $5.80 is below that $5.99 figure, so the beat is against the company's own range, not the pre-guidance Street number. Either way, the sequential step-up from $5.04 confirms the pricing and shipment momentum management flagged in the Q2 10-Q filed August 12. The company posted third-quarter sales of $11.25 billion, or USD 11,250 million, versus an IBES estimate of USD 10,834 million, and net income of $1.32 billion. Segment detail and any Q4 commentary are not yet in this report.
At the time of this announcement, NUE was trading at $258.50 on NYSE in the Manufacturing sector, with a market capitalization of approximately $58.4B. The 52-week trading range was $138.34 to $280.11. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.