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Nucor Corporation (NUE - Free Report) is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the U.S. Nucor remains committed to expand its production capabilities and grow its business through strategic acquisitions. The company is also seeing continued momentum in the automotive market.
Let’s have a quick look at this steel company’s fourth-quarter 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Nucor for the fourth quarter has been stable over the past week. The company has beaten the Zacks Consensus Estimate in two of the trailing four quarters while missing in the other two, with an average positive surprise of 23.16%.
Nucor’s earnings for the fourth quarter were 50 cents per share. Earnings topped the Zacks Consensus Estimate of 34 cents.
Revenues
Nucor reported revenues of $3,956.5 million, up roughly 14% year over year. That beat the Zacks Consensus Estimate of $3,780 million.
Key Stats/Developments to Note
Total steel mills shipments in the fourth quarter were 5,151,000 tons, up 16% year over year. Total tons shipped to outside customers were up 14% year over year to 5,815,000 tons. Average sales price in the quarter were flat year over year.
The company expects earnings in first-quarter 2017 to increase on a sequential comparison basis. It also expects profitability for full-year 2017 to significantly exceed the level achieved in 2016.
Zacks Rank
Currently, Nucor has a Zacks Rank #2 (Buy).
Market Reaction
Nucor’s shares were inactive following the release. 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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Nucor's (NUE) Q4 Earnings & Sales Beat Estimates
Nucor Corporation (NUE - Free Report) is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the U.S. Nucor remains committed to expand its production capabilities and grow its business through strategic acquisitions. The company is also seeing continued momentum in the automotive market.
Let’s have a quick look at this steel company’s fourth-quarter 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Nucor for the fourth quarter has been stable over the past week. The company has beaten the Zacks Consensus Estimate in two of the trailing four quarters while missing in the other two, with an average positive surprise of 23.16%.
Nucor Corporation Price and EPS Surprise
Nucor Corporation Price and EPS Surprise | Nucor Corporation Quote
Earnings
Nucor’s earnings for the fourth quarter were 50 cents per share. Earnings topped the Zacks Consensus Estimate of 34 cents.
Revenues
Nucor reported revenues of $3,956.5 million, up roughly 14% year over year. That beat the Zacks Consensus Estimate of $3,780 million.
Key Stats/Developments to Note
Total steel mills shipments in the fourth quarter were 5,151,000 tons, up 16% year over year. Total tons shipped to outside customers were up 14% year over year to 5,815,000 tons. Average sales price in the quarter were flat year over year.
The company expects earnings in first-quarter 2017 to increase on a sequential comparison basis. It also expects profitability for full-year 2017 to significantly exceed the level achieved in 2016.
Zacks Rank
Currently, Nucor has a Zacks Rank #2 (Buy).
Market Reaction
Nucor’s shares were inactive following the release. 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!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>