Steelmaker Nucor's third-quarter profit dented by impairment charges [Yahoo! Finance]
Nucor Corporation (NUE)
Last nucor corporation earnings: 4/28 08:00 am
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Source: Yahoo! Finance
U.S. steelmakers are facing a sluggish pricing environment as distributors hold back on purchases beyond immediate inventory needs because of an oversupply. Nucor expects further sequential decline in fourth-quarter net earnings in its steel mills and products segments. The company posted a quarterly profit of nearly $250 million, or $1.05 per share, for the third quarter, accounting for impairment charges of $123 million. Excluding items, the steelmaker earned $1.49 per share, beating the average analyst estimate of $1.47, according to data compiled by LSEG. Revenue fell more than 15% to $7.44 billion as the company struggled with weak prices and soft demand. That compared with estimates of $7.28 billion. Average sales price per ton in the third quarter decreased 6% from the second quarter and 15% from a year earlier. Last month, the North Carolina-based company forecast third-quarter profit to range between $1.30 and $1.40 per share. (Reporting by Aatreyee Dasgupta in
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NUE
Earnings
- 10/21/24 - Miss
NUE
Sec Filings
- 11/13/24 - Form 4
- 11/12/24 - Form 144
- 11/7/24 - Form 4
- NUE's page on the SEC website