Nucor Corp Earnings Cheat Sheet: Profit Down

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S&P 500 (NYSE:SPY) component Nucor Corporation (NYSE:NUE) reported its results for the first quarter. Nucor and its affiliates manufacture steel and steel products for customers mainly located in North America.

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Nucor Earnings Cheat Sheet for the First Quarter

Results: Net income for Nucor Corporation fell to $145.1 million (46 cents per share) vs. $159.8 million (50 cents per share) a year earlier. This is a decline of 9.2% from the year-earlier quarter.

Revenue: Rose 4.9% to $5.07 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Nucor Corporation beat the mean analyst estimate of 40 cents per share. Analysts were expecting revenue of $5.05 billion.

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 8 cents in the fourth quarter of the last fiscal year, by 6 cents in the third quarter of the last fiscal year, and by 13 cents in the second quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 25.3% to $4.83 billion in the fourth quarter of the last fiscal year. The figure rose 26.9% in the third quarter of the last fiscal year from the year earlier and climbed 21.7% in the second quarter of the last fiscal year from the year-ago quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 93 cents a share to 77 cents over the last sixty days. For the fiscal year, the average estimate has moved down from $3.22 a share to $2.74 over the last sixty days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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