Core Viewpoint - Nucor's recent earnings report shows a significant decline in earnings and revenues year-over-year, with expectations for continued challenges in the upcoming quarter [2][3][8]. Financial Performance - Nucor reported earnings of $1.05 per share for Q3 2024, down from $4.57 in the same quarter last year. Adjusted earnings per share were $1.49, exceeding the Zacks Consensus Estimate of $1.40 [2]. - Net sales were approximately $7.4 billion, a decrease of 15.2% year-over-year, but above the Zacks Consensus Estimate of $7.2 billion [3]. - Total sales tons to outside customers for steel mills were 4,607,000 tons, a slight increase of 0.6% year-over-year, surpassing the estimate of 4,446,000 tons. The average sales price per ton fell by 15% [4]. Segment Performance - Earnings from the steel mills unit dropped 65% year-over-year due to lower average selling prices [5]. - The steel products division saw a 61% decline in earnings year-over-year, attributed to reduced prices and lower volumes [5]. - The raw materials segment's earnings decreased by 192% due to a non-cash impairment charge [6]. Financial Position - Cash and cash equivalents were around $4.26 billion at the end of the quarter, down 27.3% year-over-year. Long-term debt was approximately $5.68 billion, a decrease of 14.1% [7]. - The company repurchased about 2.5 million shares at an average price of $156.07 per share during the quarter [7]. Outlook - Nucor anticipates that consolidated net earnings for Q4 2024 will be lower than in Q3 2024, primarily due to reduced profitability in the steel mills segment and lower volumes [8][9]. - The raw materials segment's earnings are expected to improve sequentially, excluding the impairment charge taken in Q3 2024 [9]. Market Sentiment - There has been a downward trend in estimates for Nucor, with a consensus estimate shift of -30.35% [10][11]. - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations for below-average returns in the coming months [13]. Industry Comparison - Nucor is part of the Zacks Steel - Producers industry, where competitor Steel Dynamics has gained 6.4% over the past month despite reporting a year-over-year revenue decline of 5.4% [14]. - Steel Dynamics is expected to post earnings of $1.59 per share for the current quarter, reflecting a change of -39.1% from the previous year [15].

Group 1: UPS Overview - UPS is currently experiencing a turnaround, with operating profit falling to $5.5 billion in the first nine months of 2024 from approximately $6.7 billion in the same period of 2023, and operating margin declining to 8.4% from 10.1% [3] - Despite recent struggles, UPS has seen improvements, with third-quarter operating profit rising to about $2 billion from $1.3 billion in the same quarter of 2023, and operating margin increasing to 8.9% from 6.4% [4] - UPS has a strong dividend history, having increased its dividend annually for 15 consecutive years, and currently offers an attractive 4.9% dividend yield [5] Group 2: Nucor Overview - Nucor is one of the largest steelmakers in North America, known for its diversified business model that includes both bulk steel and higher-margin specialty products [5] - In the third quarter of 2024, Nucor's revenue dropped 8% sequentially from the second quarter and 15% compared to the third quarter of 2023, reflecting the cyclical nature of the steel industry [6] - Nucor is recognized as a Dividend King, having increased its dividends annually for at least 50 years, demonstrating exceptional management in a highly cyclical industry [7] Group 3: Investment Considerations - Both UPS and Nucor are currently trading approximately 20% below their respective 52-week highs, presenting potential opportunities for long-term investors [8]

Nucor has made strategic investments worth about half its market cap over the past eight years.There's been plenty of talk among investing pundits about who could end up being the winners and losers this election season. Companies in some sectors will likely be favored over others depending on the next U.S. president and the makeup of Congress.But one is company set up to win regardless of who wins in the upcoming election is Nucor (NUE 1.21%). North America's largest steel and steel products company has ta ...

Core Insights - Nucor Corporation is the largest steel producer and scrap recycler in the US, operating primarily through its steel mill operations [1] Company Overview - Nucor Corporation is a manufacturer of steel and steel products, with three major segments, the largest being its steel mill operations [1] Industry Context - The company is positioned as a leader in the steel industry, indicating a strong market presence and operational capacity [1]

Group 1 - The article discusses the investment analysis approach of Michael Del Monte, highlighting his macro-value-oriented strategy and cross-industry analysis expertise [1] - Michael Del Monte has over 5 years of experience as a buy-side equity analyst and previously worked in professional services for over a decade across various industries including Oil & Gas, Information Technology, and consumer discretionary [1] - The article emphasizes the importance of making investment recommendations based on comprehensive industry analysis rather than focusing solely on individual companies [1]

Nucor Corporation (NYSE:NUE) Q3 2024 Earnings Conference Call October 22, 2024 10:00 AM ET Company Participants Jack Sullivan - General Manager and IR Leon Topalian - Chair, President and CEO Steve Laxton - EVP and CFO Brad Ford - EVP, Fabricated Construction Products Dave Sumoski - COO Noah Hanners - EVP, Raw Materials Greg Murphy - EVP, Business Services & General Counsel John Hollatz - EVP, Bar and Rebar Fabrication Conference Call Participants Lawson Winder - Bank of America Securities Timna Tanners - W ...

Financial Performance - Q3 2024 Cash from Operations reached $1.3 billion and EBITDA was $869 million[4] - GAAP Earnings Per Share (diluted) stood at $1.05, while Adjusted Earnings Per Share (diluted) was $1.49[4] - The company allocated $400 million for Q3 Share Repurchases, representing approximately 2.5 million shares[4] - Year-to-date, $2.3 billion was returned to shareholders, and capital expenditures also amounted to $2.3 billion[4] - The company holds $4.9 billion in cash on hand, with Net Debt/LTM EBITDA remaining less than 1x[4] Segment Results (Q3 2024 vs Prior Quarter) - Steel Mills' pre-tax segment earnings decreased, with EBT/ton 51% lower[8,10] - Steel Products' pre-tax segment earnings also decreased, including a $40 million impairment[8,10] - Raw Materials segment experienced a loss, with a $83 million impairment[8,10] Market and Strategy - The company is on track for the safest year in its history, with a YTD Injury & Illness rate of 0.77 compared to 0.83 in the prior YTD period[4] - Steel Products segment is expected to have a long-term run rate EBITDA margin of 15%+[8] - Since 2017, the company has reduced its share count by 26%[16]

Core Viewpoint - Nucor Corporation reported a significant decline in earnings for the third quarter of 2024, with adjusted earnings per share surpassing estimates despite lower net sales and average selling prices [1][2]. Group 1: Earnings and Sales Performance - The company reported earnings of $1.05 per share, down from $4.57 in the same quarter last year [1]. - Adjusted earnings per share were $1.49, exceeding the Zacks Consensus Estimate of $1.40 [1]. - Net sales totaled $7,444.2 million, a decrease of approximately 15.2% year over year, but above the Zacks Consensus Estimate of $7,204.5 million [1]. Group 2: Operating Figures - Total sales tons to outside customers for steel mills were 4,607,000 tons, a 0.6% increase year over year, surpassing the estimate of 4,446,000 tons [2]. - The average sales price per ton fell by 15% [2]. - Overall operating rates at the steel mills decreased to 75% in Q3 2024 from 77% in Q3 2023 [2]. Group 3: Segment Highlights - Earnings from the steel mills unit dropped by 65% year over year due to lower average selling prices [3]. - The steel products division saw a 61% decline in earnings year over year, attributed to reduced prices and lower volumes [3]. - The raw materials segment's earnings fell by 192% due to a non-cash impairment charge [3]. Group 4: Financial Position - Cash and cash equivalents were $4,262.8 million at the end of the quarter, down 27.3% year over year [4]. - Long-term debt decreased to $5,684.9 million, down 14.1% [4]. - The company repurchased approximately 2.5 million shares at an average price of $156.07 per share during the quarter [4]. Group 5: Outlook - Nucor anticipates that consolidated net earnings for Q4 2024 will be lower than in Q3 2024 due to reduced profitability in the steel mills segment [5]. - Earnings in the steel products division are expected to decline in Q4 compared to Q3, driven by lower average selling prices and volumes [5]. - The raw materials segment's earnings are predicted to improve sequentially, excluding the impairment charge taken in Q3 2024 [5]. Group 6: Stock Performance - Nucor's shares have increased by 11.2% over the past year, outperforming the industry's 4.8% rise [6].

Nucor (NUE) reported $7.44 billion in revenue for the quarter ended September 2024, representing a year-overyear decline of 15.2%. EPS of $1.49 for the same period compares to $4.57 a year ago. The reported revenue represents a surprise of +3.33% over the Zacks Consensus Estimate of $7.2 billion. With the consensus EPS estimate being $1.40, the EPS surprise was +6.43%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

Nucor (NUE) came out with quarterly earnings of $1.49 per share, beating the Zacks Consensus Estimate of $1.40 per share. This compares to earnings of $4.57 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 6.43%. A quarter ago, it was expected that this steel company would post earnings of $2.31 per share when it actually produced earnings of $2.68, delivering a surprise of 16.02%. Over the last four quarters, the company has s ...