Nucor (NUE) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this steel company have returned -2.3%, compared to the Zacks S&P 500 composite's +3.1% change. During this period, the Zacks Steel - Producers industry, which Nucor falls in, has gained 3%. The key question now is: What could be the stock's future direction?Although media reports or rumors about ...

Christian Feldhaar/iStock via Getty ImagesIntroduction Nucor Corporation (NYSE:NUE) is one of the most important companies in the US. It operates in the boring and underestimated steel industry. The US plans to renew its infrastructure needs with an exuberant quantity of various commodities. Steel comes to mind first when we talk about infrastructure. NUE is one of North America's largest steel producers globally and the leading recycler. The company leads its regional competitors, Cleveland-Cliffs (CLF ...

The steel industry is highly cyclical, and investors in the sector just need to accept that. To help deal with this situation, however, companies like Steel Dynamics (STLD 0.09%) have taken to providing earnings guidance updates close to their actual earnings releases. In this way, it can avoid unexpected surprises. This time around, though, Wall Street's thinking was way off the mark. And that was good news.Steel Dynamics has a strong dividend historyWhen you compare Steel Dynamics to industry icons like U ...

The most recent trading session ended with Nucor (NUE) standing at $168.19, reflecting a -0.4% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.07%.The the stock of steel company has risen by 1.28% in the past month, lagging the Basic Materials sector's gain of 1.66% and the S&P 500's gain of 3.98%.Analysts and investors alike will be keeping a close eye on the performance of Nucor in its upcoming earnings disclosure. The company's earnings report is set to go p ...

Nucor (NUE) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this steel company have returned +5.8% over the past month versus the Zacks S&P 500 composite's +4% change. The Zacks Steel - Producers industry, to which Nucor belongs, has gained 5.3% over this period. Now the key question is: Where could the stock be headed in the near term?While media releases or rumors ab ...

This commentary first appeared on Forbes Great Speculations, where Schaeffer's Investment Research is a regular contributor, on Wednesday, Dec. 20.The steel sector has been in focus lately, after President Joe Biden’s re-election campaign adviser Brian Deese raised concerns about Nippon Steel’s acquisition of U.S. Steel (X).Nucor Corporation (NYSE:NUE) stock has been in rally mode since news of the acquisition broke on Monday, today hitting its highest level since February with support from its 20-day movin ...

Financial Performance - Net sales for the three months ended September 30, 2023, were $8,775,734, a decrease of 16.4% compared to $10,500,755 for the same period in 2022[8] - Net earnings attributable to Nucor stockholders for the three months ended September 30, 2023, were $1,141,506, down 32.7% from $1,694,748 in the prior year[8] - Earnings per share (EPS) for the three months ended September 30, 2023, were $4.58, compared to $6.51 for the same period in 2022, reflecting a decline of 29.8%[8] - Comprehensive income for the three months ended September 30, 2023, was $1,201,400, down from $1,766,300 in the same period of 2022, a decline of 32.1%[11] - Net earnings before noncontrolling interests for the nine months ended September 30, 2023, were $4,039,959, a decrease from $6,753,395 in the same period of 2022[17] - Nucor reported net earnings of $1.14 billion, or $4.57 per diluted share, for Q3 2023, down from $1.69 billion, or $6.50 per diluted share, in Q3 2022[75] - Nucor reported net earnings of $3.74 billion, or $14.83 per diluted share, for the first nine months of 2023, down from $6.35 billion, or $23.85 per diluted share, in the same period of 2022[77] Assets and Liabilities - Total assets as of September 30, 2023, increased to $34,267,786 from $32,479,210 as of December 31, 2022, representing a growth of 5.5%[14] - Total liabilities decreased to $12,758,704 as of September 30, 2023, from $12,909,304 at the end of 2022, a reduction of 1.2%[14] - Cash and cash equivalents rose to $5,855,950 as of September 30, 2023, compared to $4,280,852 at the end of 2022, marking an increase of 36.8%[14] - Total cash and cash equivalents and restricted cash at the end of the nine months was $5,868,782, up from $3,129,744 at the same time last year[17] - The total assets measured at fair value as of September 30, 2023, were $6,105,276, compared to $3,874,345 at the end of 2022[29] - As of September 30, 2023, the fair value of Nucor's short-term and long-term debt was approximately $5.77 billion, down from $5.93 billion at December 31, 2022[30] Cash Flow and Investments - Cash provided by operating activities was $5,591,609, down from $7,538,521 year-over-year[17] - Cash used in investing activities was $(1,840,542), a decrease from $(4,987,193) year-over-year[17] - Cash used in financing activities was $(2,244,342) for the nine months ended September 30, 2023, compared to $(1,925,021) in the same period of 2022[17] - Capital expenditures increased to $(1,496,248) compared to $(1,430,125) in the previous year[17] - Pre-operating and start-up costs for new facilities were approximately $100 million in Q3 2023, up from $52 million in Q3 2022, and totaled approximately $273 million in the first nine months of 2023 compared to $174 million in the same period of 2022[91] Stockholder Equity and Dividends - The total stockholders' equity attributable to Nucor as of September 30, 2023, was approximately $20.47 billion[47] - As of September 30, 2023, total stockholders' equity was $20.47 billion, an increase from $18.41 billion on December 31, 2022, reflecting a growth of approximately 11.5%[49] - The company declared cash dividends of $0.51 per share in Q3 2023, up from $0.50 per share in Q3 2022, and $1.53 per share for the first nine months of 2023, compared to $1.50 per share in the same period of 2022[52] - The company has approximately $3.50 billion available for share repurchases under the new program authorized by the Board of Directors, which allows for repurchases of up to $4.00 billion of common stock[52] Segment Performance - Net sales for the steel mills segment in Q3 2023 were $5,091,479, a decrease from $5,908,153 in Q3 2022, representing a decline of approximately 13.8%[62] - Total net sales for the company in the first nine months of 2023 were $27,008,970, down from $32,788,511 in the same period of 2022, reflecting a decrease of about 17.5%[62] - Earnings before income taxes and noncontrolling interests for the steel mills segment in Q3 2023 were $882,614, compared to $1,287,855 in Q3 2022, indicating a decline of approximately 31.5%[62] - The steel products segment's net sales in Q3 2023 were $3,235,969, down from $4,087,107 in Q3 2022, reflecting a decrease of about 20.9%[62] - The raw materials segment reported net sales of $448,286 in Q3 2023, down from $505,495 in Q3 2022, a decrease of about 11.3%[62] Operational Metrics - The average utilization rates for steel mills, steel products, and raw materials segments were approximately 80%, 66%, and 74% respectively in the first nine months of 2023, compared to 80%, 76%, and 73% in the same period of 2022[74] - Total tons shipped to outside customers in Q3 2023 were approximately 6.24 million tons, a 3% decrease from Q3 2022, and for the first nine months, it was approximately 19.27 million tons, also a 3% decrease[81] - Average sales price per ton decreased 14% in Q3 2023 to $1,406 from $1,637 in Q3 2022, and for the first nine months, it decreased 15% to $1,402 from $1,657[81] Expenses and Costs - The average scrap and scrap substitute cost per gross ton used in Q3 2023 was $415, a 17% decrease from $502 in Q3 2022, while for the first nine months, it was $429, a 16% decrease from $511[89] - Interest expense increased in Q3 2023 to $63.23 million from $54.57 million in Q3 2022, and for the first nine months, it rose to $186.72 million from $162.16 million[98] - Nucor's expense for employee benefits totaled $148.6 million in Q3 2023, down from $214.4 million in Q3 2022, with total expenses for the first nine months of 2023 at $505.2 million, compared to $834.3 million in 2022[39] Market Outlook - The company anticipates that market conditions, including competitive pressures and raw material costs, will impact future performance[70] - The company plans to continue focusing on market expansion and new product development to enhance revenue streams[60] - Nucor's operations include international trading and sales companies that buy and sell steel products, indicating a focus on market expansion[72]

Nucor Corporation (NYSE:NUE) Q3 2023 Earnings Conference Call October 24, 2023 10:00 AM ET Company Participants Jack Sullivan - General Manager-Investor Relations Leon Topalian - Chair, President and Chief Executive Officer Steve Laxton - Executive Vice President and Chief Financial Officer Al Behr - Executive Vice President-Plate and Structural Products John Hollatz - Executive Vice President-Bar, Engineered Bar and Rebar Fabrication Products Rex Query - Executive Vice President-Sheet and Tubular Products ...

THIRD QUARTER 2023 EARNINGS CALL LEON TOPALIAN Chair, President and CEO STEVE LAXTON Executive Vice President and CFO FORWARD-LOOKING STATEMENTS Certain statements made in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The ...

SECOND QUARTER 2023 EARNINGS CALL LEON TOPALIAN Chair, President and CEO STEVE LAXTON Executive Vice President and CFO FORWARD-LOOKING STATEMENTS Certain statements made in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The ...