Nucor CorporationNUE is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States.
Nucor's adjusted earnings for the second quarter came in at $2.13 per share, which surpassed the Zacks Consensus Estimate of $2.10.
Nucor reported revenues of $6,460.8 million for the quarter, up roughly 24.9% year over year from $5,174.8 million. The figure trailed the Zacks Consensus Estimate of $6,492.9 million.
Nucor Corporation Price and EPS Surprise
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Nucor for the second quarter have been going up over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters, while missing once, with an average positive surprise of 3.8%.
Key Stats/Developments to Note
Total steel mills shipments in the second quarter were 6,440,000 tons, up 6% year over year. Total tons shipped to outside customers were up 7% year over year to 7,197,000 tons. Average sales price in the quarter were up 17% year over year.
Currently, Nucor has a Zacks Rank #2 (Buy).
Nucor's shares were up roughly 0.5% 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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