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Nucor's (NUE) Q2 Earnings Beat, Revenues Miss Estimates

Nucor CorporationNUE 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 second quarter came in at $2.13 per share, which surpassed the Zacks Consensus Estimate of $2.10.

Revenues

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

Nucor Corporation Price and EPS Surprise | Nucor Corporation Quote

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.

Zacks Rank

Currently, Nucor has a Zacks Rank #2 (Buy).

Market Reaction

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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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