Nucor's (NUE) Q4 Earnings Outshine, Revenues Miss
Nucor Corporation NUE is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the U.S.
Nucor is still exposed to weak steel market fundamentals. Excess capacity, surging imports and weak pricing are weighing on the company’s performance.
Let’s have a quick look at this steel company’s fourth-quarter 2015 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Nucor for the fourth quarter has seen a downward trend over the past one month. The company has beaten the Zacks Consensus Estimate in all of the trailing 4 quarters with an average beat of 42.27%.
Earnings
Nucor posted adjusted earnings of 46 cents per share for the quarter. Earnings topped the Zacks Consensus Estimate of 22 cents by a wide margin.
Revenues
Nucor reported revenues of $3,456.7 million, down roughly 31% year over year. That missed the Zacks Consensus Estimate of $3,637 million.
Key Stats/Developments to Note
Total tons shipped to outside customers in the fourth quarter were 5,107,000, down 16% from 6,070,000 in the fourth quarter of 2014. Average sales price in the quarter fell 18% year over year.
Zacks Rank
Currently, Nucor has a Zacks Rank #4 (Sell), but that could change following the company’s earnings report which was just released.
Market Reaction
Nucor’s shares were inactive following the release. 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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NUCOR CORP (NUE): Free Stock Analysis Report
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