) has announced its guidance for the second quarter 2013. The
company expects earnings to be in the range of 25 cents to 30
cents, lower than 35 cents it reported in the year-ago quarter
and almost in line with the first quarter of 2013. The estimated
earnings does not include any accounting charges or credits which
were otherwise included in the second quarter last year.
Nucor stated that performance in its steel mills is down
sequentially with weakness in sheet and structural steel somewhat
masked by improvement in plate. Nucor's raw materials segment is
also expected to report stronger results in the second quarter,
owing to normalized operations at its Trinidad Direct Reduced
Iron facility after an unplanned 18 day outage in the first
Nucor added that non-residential construction markets are
still lacking momentum but are showing improvements from
historically low levels. Manufactured goods including energy and
automotive are showing strength.
Nucor released its first quarter results in Apr 2013. The
company's adjusted (excluding special items) earnings of 29 cents
per share for the first quarter of 2013 surpassed the Zacks
Consensus Estimate of 25 cents. The adjusted earnings exclude an
inventory related charge of $18 million or 3 cents a share.
Revenues decreased 10.3% year over year to $4,550 million,
missing the Zacks Consensus Estimate of $4,622 million.
Nucor is expected to release its second quarter results on Jul
15, 2013. The company currently retains a short-term Zacks Rank
Other companies in the steel industry with favorable Zacks
Shiloh Industries Inc.
Kobe Steel Ltd.
LB Foster Co.
). While both Shiloh and Kobe Steel retain a Zacks Rank #1
(Strong Buy), LB Foster has a Zacks Rank #2 (Buy).
FOSTER LB CO (FSTR): Free Stock Analysis
KOBE STEEL-ADR (KBSTY): Get Free Report
NUCOR CORP (NUE): Free Stock Analysis Report
SHILOH INDS INC (SHLO): Get Free Report
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