Nucor (NUE) Tops Q2 EPS by 3c; Sees Strong Q3 Earnings

Nucor (NYSE: NUE) reported Q2 EPS of $0.73, $0.03 better than the analyst estimate of $0.70. Revenue for the quarter came in at $4.25 billion versus the consensus estimate of $4.5 billion.

Nucor said: We expect further strong improvement in earnings in the third quarter of 2016. Most of the quarter over quarter improvement will be in the steel mills segment, primarily in our sheet mills. The performance of the raw materials segment is expected to improve significantly in the third quarter of 2016 as compared to the second quarter of 2016 due primarily to improved performance at our DRI facilities. We expect increased profitability for our downstream products segment in the third quarter of 2016 as compared to the second quarter of 2016 due to the gradual improvement in nonresidential construction markets.

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

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