Profile
Sector:
Basic MaterialsIndustry:
Steel & IronCountry:
United StatesIPO:
17 March 1980Website:
http://www.nucor.comNext earnings report:
30 January 2025Last dividends:
27 September 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 23:58:14 GMTAnalysts recommendations
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NUE Latest News
Nucor has made strategic investments worth about half its market cap over the past eight years.
Nucor Corporation, the biggest steel maker and scrap recycler in the US, is struggling with strong competition from Chinese steel exporters, which affects its market results. Even though the company reported better-than-expected adjusted earnings per share and revenue for the third quarter of 2024, it experienced major drops in net revenue, EBIT, and EBITDA because of low prices and fewer shipments. Although long-term operating margins are similar to those before 2021, recent quarters have shown a notable decrease in margins due to market challenges and less pricing power.
Nucor Corporation is experiencing challenges because of falling steel prices, which could lead to reduced production volumes as cheap, carbon-heavy steel imports affect local prices. Their financial results indicate a 50% drop in pretax earnings for steel mills and a 20% decrease for steel products, with lower expectations for the fourth quarter of 2024. To counter these market difficulties, management is focusing on diversifying and investing in growth through acquisitions and new projects to help stabilize cash flow.
Jim Cramer, the host of 'Mad Money,' takes a close look at Nucor's earnings.
Jim Cramer, the host of 'Mad Money,' takes a close look at Nucor's earnings.
Nucor Corporation (NYSE:NUE) will hold its Q3 2024 Earnings Conference Call on October 22, 2024, at 10:00 AM ET. The call will feature several company executives, including Jack Sullivan, Leon Topalian, and Steve Laxton, among others. Various analysts from different financial institutions will also participate in the call.
NUE's profits fell in the third quarter because of reduced average selling prices.
While the revenue and earnings per share (EPS) for Nucor (NUE) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.
In the third quarter of 2024, Nucor reported consolidated net earnings of $249.9 million, which is $1.05 per diluted share for its stockholders. The adjusted net earnings for the same group were $353.0 million, equating to $1.49 per diluted share.
Nucor Corporation (NUE) is set to announce its earnings for the third quarter on Monday, October 21, before the market opens.
What type of business is Nucor?
Nucor Corporation is a metallurgical holding company that produces steel and steel products from ferrous metals. The company was registered in 1958 and is based in Charlotte, North Carolina. The company also engages in brokerage trading of ferrous and non-ferrous metals, pig iron, and hot briquetted iron. The company's activities include international trading and marketing companies that buy and sell steel and steel products.
What sector is Nucor in?
Nucor is in the Basic Materials sector
What industry is Nucor in?
Nucor is in the Steel & Iron industry
What country is Nucor from?
Nucor is headquartered in United States
When did Nucor go public?
Nucor initial public offering (IPO) was on 17 March 1980
What is Nucor website?
https://www.nucor.com
Is Nucor in the S&P 500?
Yes, Nucor is included in the S&P 500 index
Is Nucor in the NASDAQ 100?
No, Nucor is not included in the NASDAQ 100 index
Is Nucor in the Dow Jones?
No, Nucor is not included in the Dow Jones index
When was Nucor the previous earnings report?
No data
When does Nucor earnings report?
The next expected earnings date for Nucor is 30 January 2025