Nucor (NUE) Tops Q1 EPS by 1c

Nucor (NYSE: NUE) reported Q1 EPS of $3.10, $0.01 better than the analyst estimate of $3.09. Revenue for the quarter came in at $7.02 billion versus the consensus estimate of $7.19 billion.

Second Quarter of 2021 Outlook:

We expect earnings in the second quarter of 2021 to be the highest quarterly earnings in Nucor history, surpassing the record set in the first quarter of 2021. The primary drivers for the expected increase in earnings in the second quarter of 2021 as compared to the first quarter of 2021 are improved pricing and margins in the steel mills segment. The segment's largest increases in performance are expected at our sheet and plate mills. The steel products segment is expected to have another strong quarter in the second quarter of 2021 that will be comparable to the first quarter of 2021. The profitability of the raw materials segment is expected to decrease in the second quarter of 2021 as compared to the first quarter of 2021 due to rising raw materials input costs.

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

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