For the quarter ended September 2023, Nucor (NUE) reported revenue of $8.78 billion, down 16.4% over the same period last year. EPS came in at $4.57, compared to $6.50 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.53 billion, representing a surprise of +2.85%. The company delivered an EPS surprise of +7.28%, with the consensus EPS estimate being $4.26.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Nucor performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales Tons to outside customer (Steel) - Total Steel Mills: 4,578 KTon versus the four-analyst average estimate of 4,675.31 KTon.
- Average sales price per ton (Steel) - Total Steel Mills: 1,114 $/Ton versus the four-analyst average estimate of 1,068.89 $/Ton.
- Average sales price per ton (Steel) - Plate: 1,558 $/Ton compared to the 1,464.76 $/Ton average estimate based on four analysts.
- Sales Tons to outside customer (Steel) - Sheet: 2,305 KTon versus the four-analyst average estimate of 2,326.71 KTon.
- Sales Tons to outside customer (Steel) - Bars: 1,408 KTon compared to the 1,450.96 KTon average estimate based on four analysts.
- Sales Tons to outside customer (Steel) - Structural: 439 KTon versus 397.7 KTon estimated by four analysts on average.
- Sales Tons to outside customer (Steel) - Plate: 426 KTon versus 499.95 KTon estimated by four analysts on average.
- Net sales to external customers- Raw materials: $521 million versus the three-analyst average estimate of $455.47 million. The reported number represents a year-over-year change of +3.1%.
- Net sales to external customers- Bar: $2 billion compared to the $1.43 billion average estimate based on three analysts. The reported number represents a change of +13.6% year over year.
- Net sales to external customers- Structural: $530 million compared to the $533.51 million average estimate based on three analysts. The reported number represents a change of -32.6% year over year.
- Net sales to external customers- Sheet: $2.72 billion versus the three-analyst average estimate of $2.24 billion. The reported number represents a year-over-year change of +0.4%.
- Net sales to external customers- Plate: $460 million compared to the $725.39 million average estimate based on three analysts. The reported number represents a change of -29.1% year over year.
Shares of Nucor have returned -7.7% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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