Steel Company Nucor's Q3: Earnings Beat, 16% Sales Decline, Moderating Average Selling Prices & More
Portfolio Pulse from Akanksha Bakshi
Nucor Corp (NYSE:NUE) reported a 16.4% YoY decline in Q3 FY23 net sales to $8.78 billion, beating the consensus of $8.31 billion. EPS fell to $4.57 from $6.50 a year ago, beating the consensus of $4.25. The company's average sales price per ton decreased by 14% YoY and fell 3% QoQ. Nucor expects earnings to decrease QoQ due to lower pricing across all three operating segments. NUE shares are trading higher by 3.94% at $146.02.
October 24, 2023 | 4:21 pm
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Nucor Corp reported a decline in Q3 FY23 net sales and EPS, but both figures beat consensus estimates. The company expects a decrease in earnings due to lower pricing. Despite the mixed results, NUE shares are trading higher.
Nucor Corp reported a decline in Q3 FY23 net sales and EPS, but both figures beat consensus estimates, which is a positive signal to the market. However, the company expects a decrease in earnings due to lower pricing, which could potentially impact the stock negatively in the future. Despite the mixed results, NUE shares are trading higher, indicating that the market has reacted positively to the earnings beat.
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