Nucor's Q4 Guidance Misses The Mark, Hit By Steel Slowdown; Stock Slides
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 17 2024
0mins
Source: Benzinga
Earnings Guidance: Nucor Corporation's fourth-quarter earnings per share (EPS) guidance is projected at $0.55 – $0.65, significantly lower than the consensus estimate of $0.86, primarily due to decreased volumes and lower average selling prices in the steel mills segment.
Share Repurchases and Financial Performance: The company has repurchased approximately 2.1 million shares in the fourth quarter, totaling 13.1 million shares for the year, while returning over $2.73 billion to shareholders through repurchases and dividends.
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Analyst Views on NUE
Wall Street analysts forecast NUE stock price to rise
10 Analyst Rating
8 Buy
2 Hold
0 Sell
Strong Buy
Current: 162.740
Low
168.00
Averages
179.00
High
200.00
Current: 162.740
Low
168.00
Averages
179.00
High
200.00
About NUE
Nucor Corporation is a manufacturer of steel and steel products, with operating facilities in the United States, Canada and Mexico. The Company also produces and procures ferrous and non-ferrous materials primarily for use in its steel manufacturing business. Its segments include steel mills, steel products and raw materials. Its products include carbon and alloy steel in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; wire and wire mesh; and utility structures. The Company, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Product Segment Performance: In the steel products segment, earnings are projected to rise due to increased volumes and stable average realized pricing, further solidifying Nucor's competitive position in the industry.
- Raw Materials Segment Growth: The raw materials segment is also expected to record a slight profit increase, indicating improvements in overall operational efficiency and a favorable market environment.
See More
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- Steel Products Performance: Nucor forecasts improved earnings in the steel products segment driven by increased volumes and stable average realized pricing, which not only reflects market stability but may also enhance the company's competitive position in a challenging market.
- Raw Materials Outlook: Although the raw materials segment is expected to see a slight increase in earnings, the overall growth is modest, highlighting the segment's vulnerability amid market fluctuations, which could impact the company's overall profitability.
See More
