Nucor (NUE) Tops Q2 EPS by 14c

Nucor (NYSE: NUE) reported Q2 EPS of $2.68, $0.14 better than the analyst estimate of $2.54. Revenue for the quarter came in at $8.08 billion versus the consensus estimate of $7.72 billion.

Third Quarter of 2024 Outlook:
We expect earnings in the third quarter of 2024 to decrease compared to the second quarter of 2024. The largest driver for the expected decrease in earnings in the third quarter of 2024 is the expected decrease in earnings of the steel mills segment, primarily due to lower average selling prices. We expect earnings in the steel products segment to decrease in the third quarter of 2024 as compared to the second quarter of 2024 due to lower average selling prices. The earnings of the raw materials segment are expected to decrease in the third quarter of 2024 as compared to the second quarter of 2024.

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

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