Nucor Provides Above-Consensus Q2 Guidance, Expects Q/Q Improvement Across Segments
Portfolio Pulse from Lekha Gupta
Nucor Corp (NYSE:NUE) provided Q2 2023 guidance, expecting EPS of $5.45-$5.55, above the consensus of $5.43. The company projects Q/Q improvements across all segments and has repurchased 3.1 million shares at an average price of $147.03 per share in Q2.
June 16, 2023 | 12:01 pm
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Nucor Corp expects Q2 2023 EPS above consensus and Q/Q improvements across segments. The company repurchased 3.1 million shares in Q2.
Nucor Corp's Q2 2023 EPS guidance is above the consensus, indicating a positive outlook for the company. The expected Q/Q improvements across all segments show strong performance, which could lead to a positive short-term impact on the stock price. Additionally, the repurchase of 3.1 million shares in Q2 demonstrates the company's confidence in its stock, further supporting a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100