Financial Performance - Consolidated net earnings attributable to Nucor stockholders for Q3 2024 were $249.9 million, or $1.05 per diluted share, with adjusted net earnings of $353.0 million, or $1.49 per diluted share[1][2] - Net earnings attributable to Nucor stockholders for Q3 2024 were $249.91 million, a significant decrease of 78.1% compared to $1.14 billion in Q3 2023[26] - Net earnings before noncontrolling interests for the nine months ended September 28, 2024, were $1,973,930, compared to $4,039,959 for the same period in 2023[31] - Net earnings attributable to Nucor stockholders for the three months ended September 28, 2024, were $249,910, with a diluted EPS of $1.05[33] - Adjusted net earnings attributable to Nucor stockholders for the three months ended September 28, 2024, were $352,990, with a diluted EPS of $1.49[33] Sales and Revenue - Net sales for Q3 2024 were $7.44 billion, an 8% decrease compared to Q2 2024 and a 15% decrease compared to Q3 2023[7] - Net sales for Q3 2024 were $7.44 billion, a decrease of 15.2% compared to $8.78 billion in Q3 2023[26] Shipments and Volumes - Total tons shipped to outside customers in Q3 2024 were approximately 6,196,000 tons, a 1% decrease compared to both Q2 2024 and Q3 2023[7] - Steel mills total shipments for Q3 2024 were 5,719 thousand tons, a slight decrease of 0.5% compared to 5,746 thousand tons in Q3 2023[23] - Sheet shipments increased by 4% to 2,837 thousand tons in Q3 2024 compared to 2,723 thousand tons in Q3 2023[23] - Raw materials sales tons to outside customers increased by 11% to 578 thousand tons in Q3 2024 compared to 521 thousand tons in Q3 2023[23] Costs and Expenses - The average scrap and scrap substitute cost per gross ton used in Q3 2024 was $378, a 5% decrease compared to Q2 2024 and a 9% decrease compared to Q3 2023[8] - Pre-operating and start-up costs related to growth projects were approximately $168 million in Q3 2024, compared to $137 million in Q2 2024 and $101 million in Q3 2023[9] - Losses and impairments of assets for the nine months ended September 28, 2024, were $137,150, with no losses reported in the same period in 2023[31] - Depreciation for the nine months ended September 28, 2024, was $808,791, compared to $681,153 in the same period in 2023[31] Share Repurchases and Stockholder Returns - Nucor repurchased approximately 2.5 million shares of its common stock during Q3 2024 at an average price of $156.07 per share, totaling approximately $2.29 billion returned to stockholders in the first nine months of 2024[11] Segment Performance - The steel mills segment's earnings decreased in Q3 2024 compared to Q2 2024 due to lower average selling prices, while the steel products segment also saw decreased earnings due to lower prices and volumes[12] Future Outlook - Nucor expects consolidated net earnings attributable to stockholders in Q4 2024 to decrease compared to Q3 2024, primarily due to lower average selling prices and decreased volumes in the steel mills segment[13] Cash and Liquidity - At the end of Q3 2024, Nucor had $4.86 billion in cash and cash equivalents and short-term investments, with a $1.75 billion revolving credit facility remaining undrawn[10] - Cash and cash equivalents decreased by 33.2% to $4.26 billion as of September 28, 2024 compared to $6.38 billion as of December 31, 2023[29] - Cash and cash equivalents and restricted cash and cash equivalents at the end of the nine months ended September 28, 2024, were $4,262,799, compared to $5,868,782 at the end of the same period in 2023[31] Operating Rates and Efficiency - Nucor's operating rates at steel mills were 75% in both Q3 and Q2 2024, compared to 77% in Q3 2023, with a decrease to 77% in the first nine months of 2024 compared to 80% in the same period of 2023[9] Balance Sheet and Equity - Total assets as of September 28, 2024 were $34.35 billion, a decrease of 2.8% compared to $35.34 billion as of December 31, 2023[29] - Long-term debt and finance lease obligations due after one year decreased by 14.5% to $5.68 billion as of September 28, 2024 compared to $6.65 billion as of December 31, 2023[29] - Retained earnings increased by 4.7% to $30.11 billion as of September 28, 2024 compared to $28.76 billion as of December 31, 2023[29] - Total equity decreased by 2.6% to $21.56 billion as of September 28, 2024 compared to $22.12 billion as of December 31, 2023[29] Cash Flow and Capital Expenditures - Cash provided by operating activities for the nine months ended September 28, 2024, was $3,245,632, down from $5,591,609 in the same period in 2023[31] - Capital expenditures for the nine months ended September 28, 2024, were $2,293,859, compared to $1,496,248 in the same period in 2023[31] - Acquisitions (net of cash acquired) for the nine months ended September 28, 2024, were $672,193, with no acquisitions reported in the same period in 2023[31] EBITDA - EBITDA for the nine months ended September 28, 2024, was $3,614,053, compared to $6,052,150 in the same period in 2023[32]

Third Quarter of 2024 HighlightsConsolidated net earnings attributable to Nucor stockholders of $249.9 million, or $1.05 per diluted share.Adjusted net earnings attributable to Nucor stockholders of $353.0 million, or $1.49 per diluted share.Net sales of $7.44 billion.Net earnings before noncontrolling interests of $302.8 million; EBITDA of $869.0 million.CHARLOTTE, N.C., Oct. 21, 2024 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) today announced consolidated net earnings attributable to Nucor stockholders ...

Nucor Corporation (NUE) is set to release third-quarter 2024 results after the closing bell on Oct. 21.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The U.S. steel giant surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing once. NUE has a trailing four-quarter earnings surprise of 7.6%, on average. It posted an earnings surprise of 16% in the last reported quarter. Lower earnings in the steel mills segment on weaker selling prices are likely ...

The upcoming report from Nucor (NUE) is expected to reveal quarterly earnings of $1.40 per share, indicating a decline of 69.4% compared to the year-ago period. Analysts forecast revenues of $7.2 billion, representing a decrease of 17.9% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 21.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company revea ...

The market expects Nucor (NUE) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on October 21, 2024, might help the stock move higher if these key numbers are bett ...

CHARLOTTE, N.C., Oct. 8, 2024 /PRNewswire/ -- In conjunction with Nucor's (NYSE: NUE) third quarter earnings release, you are invited to listen to its live conference call with host Leon Topalian, Nucor's Chair, President and Chief Executive Officer. This conference call will include a review of Nucor's results for the third quarter ended September 28, 2024, followed by a question-and-answer session. The event will be available on the internet on October 22, 2024, at 10:00 a.m. Eastern Time.    What:       ...

Nucor Corporation’s (NUE) shares have tumbled 23.9% in the past six months, underperforming the Zacks Steel Producers industry’s decline of 17.4%. The bearishness reflects the choppiness in the steel space underpinned by the significant pullback in U.S. steel prices, which has led to a downward revision in NUE’s earnings estimates.NUE is currently trading at a roughly 26% discount to its 52-week high of $203 reached on April 9, 2024. Given the pullback in Nucor’s shares, investors might be tempted to snap u ...

Nucor Corporation (NUE) issued guidance for the third quarter of 2024. The company expects earnings per share (EPS) to range between 87 cents and 97 cents. After accounting for certain one time non-cash charges totaling approximately 43 cents per share, the adjusted EPS is projected to be between $1.30 and $1.40. This marks a notable decline compared with EPS of $2.68 in second-quarter 2024 and $4.57 in third-quarter 2023.The non-adjusted earnings guidance for third-quarter 2024 includes estimated one time ...

CHARLOTTE, N.C., Sept. 17, 2024 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) today announced guidance for its third quarter ending September 28, 2024. Nucor expects third quarter earnings to be in the range of $0.87 to $0.97 per diluted share. After adding back certain one-time non-cash charges totaling approximately $0.43 per diluted share, described below, we expect third quarter adjusted earnings per diluted share to be in the range of $1.30 to $1.40. Nucor reported net earnings of $2.68 per diluted sha ...

Monty Rakusen Nucor Corporation (NYSE:NUE) established an expansionary strategy based on new acquisitions and advancement of Nucor’s capabilities. Recently, NUE announced new capital expenditures plans, which could bring new capacity and free cash flow expectations. The recent outlook given for the year 2024 was not that beneficial, and the recent decline in the average sales price per ton sold is also not helping. However, given previous free cash flow growth trajectory and the company's ongoing stock ...