Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Nucor Expects Q3 EPS Of $0.35 - $0.40 - Quick Facts

RELATED NEWS
Trade NUE now with 

Nucor Corporation(NUE: Quote), a manufacturer of steel products, Tuesday said it expects its third-quarter earnings to be in range of $0.35 to $0.40 per share, an increase from $0.35 per share reported during the corresponding quarter last year. This year's projected results include an $18 million LIFO credit, compared with $84 million a year ago. Last year results also included a non-cash charge of $28.2 million, the company said. Analysts expect the company to report earnings of $0.38 per share. Analysts' estimates typically exclude one-time items.

The company said the overall operating performance in the steel mills segment has improved, and sheet steel profitability improved as a result of competitor supply disruptions, customer inventory restocking and some market demand improvement. Structural steel results improved due to Nucor Yamato Steel's higher production, the company added. The company's raw materials segment is expected to report weaker results in the third quarter, mainly due to increased start-up costs at its plant in Louisiana, whose production is expected to begin soon.

Click here to receive FREE breaking news email alerts for Nucor Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The Bank of Japan expanded its massive quantitative and qualitative easing unexpectedly as policymakers assessed it necessary to achieve the 2 percent inflation target even after a sales tax hike in April. In a 5-4 vote, the Policy Board led by Governor Haruhiko Kuroda decided to raise the monetary base at an annual pace of about JPY 80 trillion. LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. After ending the previous session modestly lower, stocks moved mostly higher over the course of the trading day on Thursday. The gains on the day more than offset yesterday's losses, lifting the major averages to their best closing levels in a month.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.