Nucor (NUE) Tops Q2 EPS by 4c

Nucor (NYSE: NUE) reported Q2 EPS of $2.13, $0.04 better than the analyst estimate of $2.09. Revenue for the quarter came in at $6.46 billion versus the consensus estimate of $6.4 billion.

Third Quarter of 2018 Outlook

Earnings in the third quarter of 2018 are expected to further improve compared to the second quarter of 2018. The performance of the steel mills segment is expected to remain strong in the third quarter of 2018 as compared to the second quarter of 2018, with margin expansion expected primarily at our sheet and plate mills. Based on the current steel market fundamentals and communications with our customers, we believe there is sustainable strength in steel end-use markets. We expect third quarter of 2018 performance of our steel products segment to be similar to the second quarter of 2018. The performance of our raw materials segment is expected to decrease in the third quarter of 2018 as compared to the second quarter of 2018 due to margin compression.

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

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