logo
Share SHARE
FONT-SIZE Plus   Neg

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

Nucor Corporation(NUE), 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Semiconductor packaging company Amkor Technology Inc. (AMKR), Monday reported a plunge in profit for the second quarter, as revenues declined and margins narrowed. The bottom line was also impacted by a debt extinguishment charge. Shares of the company fell about 14 percent in extended hours after... Hartford Financial reported a swing to profit for the second quarter, helped mainly by improved underwriting results in property and casualty business, and contribution from Talcott Resolution, while the prior year included a one-time loss from discontinued operations. Hartford's quarterly earnings easily topped Wall Street estimates... Chinese internet-search giant Baidu Inc. (BIDU), Monday reported an increase in profit for the second quarter, as revenues jumped a near 40 percent, with both earnings and revenues trumping Street estimates. However, Baidu shares plunged over 8 percent in after-hours trade on the Nasdaq, after its...
comments powered by Disqus
RELATED NEWS
Trade NUE now with 
Follow RTT