You'll Never Guess What Kept Nucor From Having Its Best Quarter Ever [The Motley Fool]
Nucor Corporation (NUE)
Last nucor corporation earnings: 4/28 08:00 am
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Source: The Motley Fool
How many steelmakers ever take a write-down due to...natural gas wells? Nucor just did. Well, that was weird. North American steelmaker giant Nucor Corporation ( NYSE:NUE ) reported third-quarter results on October 18, yet again turning in a very strong quarter. With earnings of $2.13 per share, it matched its second-quarter result , which was good for second-best in Nucor's long history and easily its most profitable quarter in the past decade. The weird part? It should have been Nucor's best quarter ever, but the company had to take a non-cash impairment charge that knocked $0.26 per share off of its earnings, due to -- of all things -- the decline in value of its natural gas reserves. That's right; Nucor owns natural gas wells. Or more accurately, it has held an interest in natural gas production since at least 2010 as part of its strategy to hedge energy costs for its DRI (direct-reduced iron) production. Image source: Getty Images. Let's take a cl
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NUE
News
- Despite earnings miss, Nucor CEO is confident this year will be a success [CNBC]CNBC
- Cliffs sinks after Q1 miss; CEO rips US Steel deal for lacking union support [Seeking Alpha]Seeking Alpha
- US STOCKS-Wall St gains on bright earnings, megacaps' support [Yahoo! Finance]Yahoo! Finance
- Nucor's (NUE) Earnings Lag, Revenues Beat Estimates in Q1 [Yahoo! Finance]Yahoo! Finance
- US STOCKS-Futures tread higher as more earnings roll in [Yahoo! Finance]Yahoo! Finance
NUE
Earnings
- 4/22/24 - Miss
NUE
Sec Filings
- 4/22/24 - Form 8-K
- 3/26/24 - Form 4
- 3/25/24 - Form 4
- NUE's page on the SEC website