) announced its guidance for the first quarter of 2014 (ending
Apr 5, 2014). The North Carolina-based steel maker envisions
earnings for the quarter to be in the band of 30 cents to 35
cents per share, above 26 cents registered a year ago and below
53 cents in the previous quarter. Analysts polled by Zacks are
currently expecting earnings of 52 cents a share on average for
Nucor expects its first quarter results to include
inventory-related expenses of $14.5 million (or 3 cents per
share). This compares with an inventory charge of $17.4 million
and $18 million in fourth-quarter 2013 and first-quarter 2013,
respectively. The first quarter earnings also include an expected
charge of $9 million or 2 cents per share associated with assets
Nucor stated that its first quarter results have been affected
by severe weather conditions, leading to lesser demand and
decrease in the availability of railcar weaker seasonal
performance of the company's fabricated construction products
businesses. Moreover, imports have adversely affected the
company's pricing and margins at its bar and sheet mills.
Further, Nucor expects modest improvements in the nonresidential
Nucor released its fourth quarter 2013 results in Jan 2014.
The company's adjusted (excluding special items) earnings of 46
cents per share for the quarter surpassed the Zacks Consensus
Estimate of 40 cents. The adjusted earnings exclude charges of
$21.3 million or 7 cents a share related to the correction to
deferred tax balances.
Profit (as reported) for the quarter came in at $170.5 million
(or 53 cents a share), up 24.5% from $136.9 million or 43 cents
per share a year ago.
Revenues increased 10% year over year in the fourth quarter to
roughly $4,895 million, beating the Zacks Consensus Estimate of
$4,667 million. Average sales price remained flat compared with
the year-ago quarter.
Total tons shipped to outside customers rose 10% year over
year to 6,019,000 tons in the reported quarter and total mill
shipments increased 9% to 5,191,000 tons.
Nucor currently retains a Zacks Rank #3 (Hold).
AK STEEL HLDG (AKS): Free Stock Analysis
NUCOR CORP (NUE): Free Stock Analysis Report
TIMKEN CO (TKR): Free Stock Analysis Report
WORTHINGTON IND (WOR): Free Stock Analysis
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Other companies in the steel and related industries with
favorable Zacks Rank are
AK Steel holding Corporation
Worthington Industries, Inc.
). While AK Steel retains a Zacks Rank #1 (Strong Buy), both
Worthington Industries and Timken carry a Zacks Rank #2