Nucor (NUE) Tops Q2 EPS by 28c

Nucor (NYSE: NUE) reported Q2 EPS of $5.81, $0.28 better than the analyst estimate of $5.53. Revenue for the quarter came in at $9.52 billion versus the consensus estimate of $9.67 billion.

Third Quarter of 2023 Outlook:
We expect earnings in the third quarter of 2023 to decrease compared to the second quarter of 2023. We expect earnings for the steel mills segment to decline in the third quarter of 2023 as compared to the second quarter of 2023 due to decreased profitability, with the largest impact at our sheet mills. The earnings of the steel products segment are expected to moderate in the third quarter of 2023 as compared to the second quarter of 2023. Earnings for the raw materials segment are expected to decrease in the third quarter of 2023 as compared to the second quarter of 2023 due to margin compression at our DRI facilities and scrap processing operations.

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

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