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Nucor's (NUE) Q4 Earnings and Sales Beat Estimates
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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 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.
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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Nucor's (NUE) Q4 Earnings and 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 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.
Nucor Corporation Price and EPS Surprise
Nucor Corporation Price and EPS Surprise | Nucor Corporation Quote
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!
Don’t Even Think About Buying Bitcoin Until You Read This
The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017.
Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 4 crypto-related stocks now >>