Nucor’s (NUE) Q4 Earnings and Sales Beat Estimates

Nucor Corporation NUE is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States.

Earnings

Nucor’s adjusted earnings for the fourth quarter came in at 65 cents per share, which surpassed the Zacks Consensus Estimate of 55 cents.

Revenues

Nucor reported revenues of $5,092.3 million for the quarter, up roughly 28.7% year over year from $3,956.5 million. The figure surpassed the Zacks Consensus Estimate of $4,960.2 million.

Estimate Trend & Surprise History

Investors should note that the earnings estimate for Nucor for the fourth quarter and full year have been going down lately. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters, while missing in one, with an average positive surprise of 9.9%.

Key Stats/Developments to Note

Total steel mills shipments in the fourth quarter were 6,059,000 tons, up 18% year over year. Total tons shipped to outside customers were up 13% year over year to 6,542,000 tons. Average sales price in the quarter were up 14% year over year.

Zacks Rank

Currently, Nucor has a Zacks Rank #1 (Strong Buy).

Market Reaction

Nucor’s shares were up roughly 0.9% in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on Nucor’s earnings report!

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