Nucor's stock falls after downbeat profit outlook, but sees prices bottoming [MarketWatch]
Nucor Corporation (NUE)
Last nucor corporation earnings: 4/28 08:00 am
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Source: MarketWatch
Nucor's stock falls after downbeat profit outlook, but sees prices bottoming Shares of Nucor Corp. NUE, +0.36% sank 1.8% in premarket trade Friday, after the steel maker provided a first-quarter profit outlook that was below expectations. The company said it expects EPS for the quarter ending March 30 to rise to $1.45 to $1.50 from $1.10 a year ago, but fall from $2.07 in the sequential fourth quarter, but that is below the FactSet EPS consensus of $1.62. Nucor said the decline from the fourth quarter is due primarily to lower average selling prices and margins in its sheet mill group, and amid shipment delays to construction customers because of an "unusually wet winter season." Nucor said, however, that it believes sheet pricing "reached the low point" during the first quarter, and is "encouraged" by recent price increases. The stock has declined 11.1% over the past 12 months through Thursday, while the SPDR Materials Select Sector ETF XLB, +0.09% has lost 6.8% and the S&P 500
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News
- Increases to Nucor Corporation's (NYSE:NUE) CEO Compensation Might Cool off for now [Yahoo! Finance]Yahoo! Finance
- Nucor First Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Nucor Co. (NYSE: NUE) had its price target lowered by analysts at BMO Capital Markets from $210.00 to $200.00. They now have a "market perform" rating on the stock.MarketBeat
- Nucor Corporation (NYSE:NUE) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Nucor Co. (NYSE: NUE) had its price target lowered by analysts at JPMorgan Chase & Co. from $195.00 to $190.00. They now have a "neutral" rating on the stock.MarketBeat
NUE
Earnings
- 4/22/24 - Miss
NUE
Sec Filings
- 5/3/24 - Form 4
- 4/30/24 - Form 3
- 4/22/24 - Form 8-K
- NUE's page on the SEC website