The 10-second takeaway
For the quarter ended June 30 (Q2), Nucor met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Nucor logged revenue of $5.10 billion. The 14 analysts polled by S&P Capital IQ wanted to see a top line of $5.06 billion on the same basis. GAAP reported sales were 0.1% lower than the prior-year quarter's $5.11 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.41. The 18 earnings estimates compiled by S&P Capital IQ forecast $0.47 per share. GAAP EPS of $0.35 for Q2 were 63% lower than the prior-year quarter's $0.94 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 7.8%, 520 basis points worse than the prior-year quarter. Operating margin was 5.6%, 460 basis points worse than the prior-year quarter. Net margin was 2.2%, 370 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $4.99 billion. On the bottom line, the average EPS estimate is $0.42.
Next year's average estimate for revenue is $20.02 billion. The average EPS estimate is $1.78.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,149 members out of 2,234 rating the stock outperform, and 85 members rating it underperform. Among 514 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 498 give Nucor a green thumbs-up, and 16 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Nucor is outperform, with an average price target of $45.79.
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