Nucor Releases Guidance for Q3

By Eric Volkman – Sep 17, 2013 at 5:42PM

NYSE: NUE

Nucor

Market Cap

$42B

Today's Change

(-0.21%) -$0.37

Current Price

$174.27

Price as of April 24, 2024, 12:11 p.m. ET

The company believes it will post diluted EPS of $0.35 to $0.40 for the quarter.

Nucor (NUE -0.21%) is looking forward to reporting a relatively good quarter. Today, the company unveiled its guidance for the current third quarter, saying that it expects earnings of $0.35 to $0.40 per diluted share. This would be a notable improvement over the previous quarter's $0.27, and should rival Q3 2012's $0.35.

The range is also broadly in line with the average analyst projection of $0.38.

Nucor cited improvement in the operating performance of its steel mills segment as a key reason for the expected EPS improvement. In the press release detailing its estimates, the company said that the profitability of sheet steel improved on a quarter-over-quarter basis "as a result of competitor supply disruptions, customer inventory restocking and some market demand improvement."

Nucor's third quarter ends on September 28.

Fool contributor Eric Volkman has no position in Nucor. The Motley Fool recommends Nucor. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.