Stock Monitor: Ternium Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 03, 2018 / Active-Investors.com has just released a free earnings report on Nucor Corp. (NYSE: NUE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NUE. The Company reported its first quarter fiscal 2018 operating and financial results on April 19, 2018. The steel products maker reported better than expected revenues and earnings. The Company also provided guidance for the second quarter of the fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Nucor most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
Nucor's consolidated net sales increased 16% to $5.57 billion in the first quarter of the fiscal year 2018 compared to $4.82 billion in Q1 2017. The Company's revenue numbers topped analysts' estimates of $5.46 billion.
Nucor reported consolidated net earnings of $354.2 million, or $1.10 per diluted share, in Q1 2018, which included an expense of $0.07 per diluted share related to the write-off of certain deferred-tax assets. By comparison, Nucor reported consolidated net earnings of $356.9 million, or $1.11 per diluted share, in Q1 2017. The Company's earnings surpassed Wall Street's estimates of $1.09 per share.
During Q1 2018, Nucor's total tons shipped to outside customers were 6,967,000 tons, reflecting an increase of 6% on a y-o-y basis. The Company's total steel mill shipments grew 7% on a y-o-y basis, while its downstream steel products shipments to outside customers jumped 15% in the reported quarter.
During Q1 2018, Nucor's average sales price per ton increased 9% on a y-o-y basis. The Company's average scrap and scrap substitute cost per ton used was $337 in the reported quarter, representing an increase of 19% compared to $284 in Q1 2017.
For Q1 2018, Nucor's overall operating rates at steel mills increased to 92% compared to 88% in Q1 2017. The Company's total steel mill energy costs increased approximately $1 per ton in the reported quarter compared to the year ago same period, due to higher electricity unit costs.
As of March 31, 2018, Nucor had cash and cash equivalents of $760.0 million. Subsequent to the end of the first quarter, the Company amended and extended its untapped $1.5 billion revolving credit facility to mature in April 2023.
In February 2018, Nucor's Board of Directors declared a cash dividend of $0.38 per share, payable on May 11, 2018, to stockholders of record as on March 29, 2018. This dividend is Nucor's 180th consecutive quarterly cash dividend. From 2009 through 2017, Nucor returned $4.4 billion to its shareholders through dividends and share repurchases, while over the same time period, it invested $8.3 billion in attractive growth opportunities.
For the second quarter of the fiscal year 2018, Nucor is forecasting earnings to increase significantly compared to Q1 2018. Nucor noted that there is a sustainable strength in steel end use markets, and it is encouraged by recent actions undertaken by the US government to address the massive flood of dumped and illegally subsidized imports into the United States.
Nucor is projecting an improved performance for its Steel Products segment in Q2 2018, as rising steel input costs are being passed on to customers.
Stock Performance Snapshot
May 02, 2018 - At Wednesday's closing bell, Nucor's stock rose 1.04%, ending the trading session at $60.99.
Volume traded for the day: 2.18 million shares.
Stock performance in the last month – up 0.33%; and previous six-month period – up 4.31%
After yesterday's close, Nucor's market cap was at $19.76 billion.
Price to Earnings (P/E) ratio was at 15.21.
The stock has a dividend yield of 2.49%.
The stock is part of the Basic Materials sector, categorized under the Steel & Iron industry. This sector was up 0.2% at the end of the session.
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