Nucor Corporation (NUE) Releases Q3 Guidance
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Price: $243.63 +1.31%
Financial Fact:
Marketing, administrative and other expenses: 169.22M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Marketing, administrative and other expenses: 169.22M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Nucor Corporation (NYSE: NUE) announced today guidance for its third quarter ending October 1, 2011.
Nucor expects third quarter results to be in the range of $0.45 to $0.55 per diluted share. This represents a decrease of approximately 40% - 50% from second quarter of 2011 earnings of $0.94 per diluted share, but an increase of 540% - 690% over third quarter of 2010 earnings of $0.07 per diluted share.
Projected third quarter results include an estimated LIFO charge of $29 million ($0.06 per diluted share) compared to charges of $32 million in the second quarter of 2011 ($0.06 per diluted share) and $50 million in the third quarter of 2010 ($0.10 per diluted share).
The recent deterioration reflects lower steel prices and metal margins, particularly for sheet mill products, due to new domestic supply, increased imports and continued high raw material costs. While we have seen some pricing increases in sheet mill products just recently, the fundamentals here are still difficult at best.
Nucor expects third quarter results to be in the range of $0.45 to $0.55 per diluted share. This represents a decrease of approximately 40% - 50% from second quarter of 2011 earnings of $0.94 per diluted share, but an increase of 540% - 690% over third quarter of 2010 earnings of $0.07 per diluted share.
Projected third quarter results include an estimated LIFO charge of $29 million ($0.06 per diluted share) compared to charges of $32 million in the second quarter of 2011 ($0.06 per diluted share) and $50 million in the third quarter of 2010 ($0.10 per diluted share).
The recent deterioration reflects lower steel prices and metal margins, particularly for sheet mill products, due to new domestic supply, increased imports and continued high raw material costs. While we have seen some pricing increases in sheet mill products just recently, the fundamentals here are still difficult at best.
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