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Nucor's (NUE) Q1 Earnings & Revenues Beat Estimates

Zacks Equity Research

Nucor Corporation NUE 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 first quarter came in at 99 cents per share, which surpassed the Zacks Consensus Estimate of 98 cents.

Revenues

Nucor recorded net sales of $5,624.3 million, down 7.7% year over year. The figure beat the Zacks Consensus Estimate of $5,320.5 million.

Nucor Corporation Price and EPS Surprise

Nucor Corporation Price and EPS Surprise

Nucor Corporation price-eps-surprise | Nucor Corporation Quote

Estimate Trend & Surprise History

Investors should note that the earnings estimate for Nucor for the first quarter have been going up over the past month. The company has beaten the Zacks Consensus Estimate in all of the trailing four quarters, with an average positive surprise of 17.4%.

Key Stats/Developments to Note

Total steel mills shipments in the first quarter were 6,498,000 tons, up 8% year over year. Total tons shipped to outside customers were up 6% year over year to 7,187,000 tons. Average sales price declined 13% year over year.

Zacks Rank

Currently, Nucor has a Zacks Rank #5 (Strong Sell) but that could change following the company’s earnings report which was just released. you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Market Reaction

Nucor’s shares were up 1.2% 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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