An Overview of Nucor's Earnings

Nucor (NYSE:NUE) is gearing up to announce its quarterly earnings on Monday, 2024-10-21. Here's a quick overview of what investors should know before the release.

Analysts are estimating that Nucor will report an earnings per share (EPS) of $1.49.

The announcement from Nucor is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.

It's worth noting for new investors that guidance can be a key determinant of stock price movements.

Earnings History Snapshot

Last quarter the company beat EPS by $0.33, which was followed by a 1.1% drop in the share price the next day.

Here's a look at Nucor's past performance and the resulting price change:

Quarter	Q2 2024	Q1 2024	Q4 2023	Q3 2023
EPS Estimate	2.35	3.65	2.87	4.25
EPS Actual	2.68	3.46	3.16	4.57
Price Change %	-1.0%	-9.0%	7.000000000000001%	5.0%

Tracking Nucor's Stock Performance

Shares of Nucor were trading at $158.09 as of October 17. Over the last 52-week period, shares are up 12.16%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.

Analyst Views on Nucor

For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Nucor.

Nucor has received a total of 5 ratings from analysts, with the consensus rating as Outperform. With an average one-year price target of $170.0, the consensus suggests a potential 7.53% upside.

Analyzing Analyst Ratings Among Peers

In this analysis, we delve into the analyst ratings and average 1-year price targets of Steel Dynamics, Reliance and United States Steel, three key industry players, offering insights into their relative performance expectations and market positioning.

• Analysts currently favor an Neutral trajectory for Steel Dynamics, with an average 1-year price target of $136.82, suggesting a potential 13.45% downside.
• Reliance received a Outperform consensus from analysts, with an average 1-year price target of $325.0, implying a potential 105.58% upside.
• United States Steel received a Buy consensus from analysts, with an average 1-year price target of $42.64, implying a potential 73.03% downside.

Peer Metrics Summary

Within the peer analysis summary, vital metrics for Steel Dynamics, Reliance and United States Steel are presented, shedding light on their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

Company	Consensus	Revenue Growth	Gross Profit	Return on Equity
Nucor	Outperform	-15.18%	$1.19B	3.10%
Steel Dynamics	Neutral	-6.28%	$774.84M	3.49%
Reliance	Outperform	-6.11%	$1.09B	3.44%
United States Steel	Buy	-17.77%	$489M	1.62%

Key Takeaway:

Nucor ranks at the top for Gross Profit and Return on Equity among its peers. However, it ranks at the bottom for Revenue Growth.

Delving into Nucor's Background

Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.

Nucor: Financial Performance Dissected

Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.

Revenue Challenges: Nucor's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -15.18%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Materials sector.

Net Margin: Nucor's net margin excels beyond industry benchmarks, reaching 7.95%. This signifies efficient cost management and strong financial health.

Return on Equity (ROE): Nucor's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.1% ROE, the company effectively utilizes shareholder equity capital.

Return on Assets (ROA): Nucor's ROA stands out, surpassing industry averages. With an impressive ROA of 1.89%, the company demonstrates effective utilization of assets and strong financial performance.

Debt Management: With a below-average debt-to-equity ratio of 0.33, Nucor adopts a prudent financial strategy, indicating a balanced approach to debt management.

To track all earnings releases for Nucor visit their earnings calendar on our site.

This article was generated by Benzinga's automated content engine and reviewed by an editor.