Nucor (NUE) Tops Q4 EPS by 23c

Nucor (NYSE: NUE) reported Q4 EPS of $3.16, $0.23 better than the analyst estimate of $2.93. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.57 billion.

First Quarter of 2024 Outlook:
We expect earnings in the first quarter of 2024 to increase compared to the fourth quarter of 2023. The steel mills segment's earnings are expected to increase in the first quarter of 2024 due to higher average selling prices and volumes, particularly at our sheet mills. Earnings in the steel products segment are expected to decrease in the first quarter of 2024 due to lower average selling prices. We expect increased earnings in the raw materials segment in the first quarter of 2024 due to the increased profitability of our DRI facilities and our scrap processing and brokerage operations.

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

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